Following Lowered Earnings Guidance, 200 Samsung Managers Return a Portion of Their Bonuses
July 18, 2014 7:30 PM
comment(s) - last by
Total value of returned bonuses is pegged at $2.3 million
Over the past six months, Samsung has flooded the market with a wealth of smartphones and tablets. We’ve seen the launch of the
Galaxy S5 Active
Galaxy S5 Sport
Galaxy S5 LTE-A
Galaxy S5 mini
. On the tablet front, the company has released the Galaxy Tab 4 and
Galaxy Tab S series
Despite a wealth of new smartphone and tablet products blanketing a wide range of price points,
Samsung’s profit guidance for the April-June quarter
is coming in well below analysts’ estimates. Samsung has cited a number of reasons for its profit decline including a strong Won, a broad slowdown in the global electronics sector, and more specifically, tablet sales that have “declined more than expected.”
Galaxy S5 LTE-A
At least 200 managers from the South Korean company are taking the profit downturn to heart, and have voluntarily returned a quarter of their first half bonuses. According to South Korean media outlets, the value of the returned bonuses is around $2.92 million.
$2.92 million is a relative drop in the bucket compared to the
$7.35B net profit that Samsung made during the first quarter
reports that the gesture is largely symbolic to show that the managers take responsibility for the profit decline and will work even harder to improve the company’s performance in the future.
Samsung's mobile division still has time to shine this year, as the next big release on the schedule is the Galaxy Note 4. The next generation “phablet” is set to
feature a QHD display
, with some variants being powered by either the new
or Exynos 5433 processors.
This article is over a month old, voting and posting comments is disabled
RE: Good to see some honest businessmen...
7/21/2014 10:32:53 AM
If you put in a start date of Oct 7, 2011 (Jobs died on Oct 5), you'll see AAPL is up 73% since then.
But SSNLF (Samsung) is up 75% over the same time period.
MSFT is up 77%
NASDAQ is up 78%.
GOOG is up 127%.
You actually lost money investing in Apple instead of other tech stocks. You lost even more if you followed the sheep and invested heavily in Apple in 2012 (AAPL ballooned up before crashing back down - it still hasn't matched its 2012 high yet).
"It seems as though my state-funded math degree has failed me. Let the lashings commence." -- DailyTech Editor-in-Chief Kristopher Kubicki
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