“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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