15 percent of Samsung Electronics execs quit amid profit slump

“More than a hundred executives at Samsung Electronics Co. left their posts between late last year and the first quarter of 2015, data showed Thursday, in what seems to be an aftereffect of the lackluster performance in 2014 smartphone sales,” The Korea Herald reports.

“The number of unregistered executives at the world’s top smartphone and memory chipmaker had stood at 1,219 in the quarter ending in September 2014, according to the company’s half-yearly report filed with the Financial Supervisory Service, the country’s financial regulator,” The Korea Herald reports. “The figure, however, fell by 177 to 1,042 as of the end of last month, of which 25 percent, representing 44 C-suite members, were from the firms’ mainstay mobile division, Samsung’s latest business report submitted to the FSS showed.”

“Samsung Electronics suffered the worst earnings in three years in 2014, with its annual net profit tumbling 23.2 percent to 23.4 trillion won from a year earlier,” The Korea Herald reports. “In the fourth quarter of last year alone, the profit from the mobile business, Samsung’s cash cow, plunged 64 percent on-year to 1.96 trillion won, as it lost its edge to archrival Apple Inc. in the premium market and up-and-up Chinese players like Xiaomi Inc. in the low-end segment.”

Read more in the full article here.

MacDailyNews Take: Like rats fleeing a sinking ship.

An iPhone with a larger screen option will hurt Samsung immeasurably more than myriad, unending traipses through the legal morass.MacDailyNews Take, May 2, 2014

Apple grabbed 93% of the mobile industry’s profits in fourth quarter 2014.

It’s best not to mess with karma. – Steve Jobs

[Thanks to MacDailyNews Reader “M J. Miller” for the heads up.]

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  1. MDNs content rant about a larger iPhone was right. I was not in agreement with that. I am glad that Apple focused on building it’s own 64 bit chip with a secure enclave first. Getting Touch ID to work and adding a kill switch to Find My iPhone has made the iPhone the most secure smartphone. (I love how Android fans trash Touch ID. Apple never said it could not be spoofed. What it does is give you enough time to stop an asshole from hacking it and track them down). When Apple came out with a large screen and NFC you could actually use it. I believe it was a better strategy. However I did not realize how important a large screen was.

    1. Don’t feel too bad about that. It seems Apple used Samsung to do its marketing and created both larger screens and a smaller screen, while keeping its current size screen. Now we have the two larger screens, two smaller screens and a soon to come tiny screen. As usual the most successful company in the world took its time to be best, not first. Instead of an iPhone on one’s wrist, we are soon to have an iPhone accessory that extends convenience of your phone and becomes its own ecosystem. leading to improvements along the way to your Mac and driving it’s sales up, while extending other existing technologies (batteries, haptics, etc and ultimately leading to other interconnected technological magic. This is the real reason Wall Street can never properly analyze AAPL. Short attention spans of most analysts of quarter to quarter market share driven assessments, miss the truly interconnected expansive and quality obsessed nature of the company.

      1. “As usual the most successful company in the world took its time to be best, not first.”

        Nailed it. So what if Apple weren’t first with a big screen? So what if they didn’t immediately rush one to market?

  2. In the larger sense, Samsung, MS and others have now had ten years to see the LARGE picture of what apple was up to.

    And they didn’t do anything of note to generate their own competing set of interconnected devices.

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