Angry shareholders demand management heads roll at beleaguered Samsung

“In 2014 we posted a report regarding Samsung’s Galaxy S5 sales plummeting 50% in China and that heads were beginning to roll for their poor performance and yet J.K. Shin was able to stave off dismissal,” Jack Purcher reports for Patently Apple.

“A year later Samsung’s continued stagnating smartphone sales lead to a more sweeping management shake-up and still J.K. Shin, ‘Mr. Galaxy’ was able to hang in one more time,” Purcher reports. “Today we’re hearing about Samsung’s annual general meeting held on Friday and it was a very unhappy event indeed, especially for J.K. Shin.”

“The Financial Times is reporting that “Samsung Electronics faced shareholders disgruntled over the company’s deteriorating performance and governance problems,” Purcher reports. “The meeting, packed with 400 individual and institutional investors, lasted for more than three hours… shareholders were fed up with ‘Mr. Galaxy’ J.K. Shin’s excuses for poor sales and the restless investors made their presence felt by opposing his reappointment to the board and demanded measures to revitalise the slowing smartphone business and boost low margins for home appliances.”

Read more in the full article here.

MacDailyNews Take: Gee, that’s too bad.

Thermonuclear
Thermonuclear.

SEE ALSO:
Boring Galaxy S7 isn’t beleaguered Samsung’s next big thing – February 24, 2016
85% of mobile device failures occur on Android, with Samsung leading the way – February 23, 2016
Beleaguered Samsung underwhelms with the Galaxy S7 – February 22, 2016
Beleaguered Samsung enters ‘State of Emergency’ as Apple picks TSMC to be sole A10 stamper – February 11, 2016
Beleaguered Samsung cuts staff and reduces R&D spending – February 2, 2016
Beleaguered Samsung warns of tough 2016 after 4Q profit plunges 40% – January 28, 2016

[Thanks to MacDailyNews Reader “Bill” for the heads up.]

22 Comments

  1. Sounds like a bunch of cry babies to me. You’d have to reinvent the entire fucking business and its philosophy to end the malaise. There’s only one Apple and Samsung ain’t it. Get over it. Pull your money out and invest in a company with honor and principles. Sheesh.

    1. As much as I dislike Samsung, I do agree that there’s not much anyone can do to radically improve Samsung’s smartphone business. They made the decision a while ago to basically betray their best customer, Apple, in order to steal from them and make their own smartphones. They should have just been content to be a major supplier to Apple.

      Now they have their smartphone business, and it’s pressured from above by Apple, and below from the less expensive Chinese knock-off companies. Not much they can do. They can’t innovate like Apple and compete for that market. They can’t make phones as cheap as the Chinese competitors.

      They need to focus on the other aspects of their business and try to improve those. But there’s no way they are going back to their glory days in smartphones.

    2. “Pull your money out and invest in a company with honor and principles.”

      Yes, like Apple. Share prices are cheap. And the future is bright.

  2. So, where’s that insipid troll who posts under a variety of webnames here saying that Tim Cook has “got to go” from Apple? Is the trouble in Paradise/Samsung Tim’s fault too? If so . . . GREAT! GOOD JOB, TIM!

  3. I’m planning on buying some Samsung stock.

    I heard a wise man once suggest buying stock for a company you don’t like. If they win, you win. If they lose, you’re still happy!!!

  4. For as long as I live, I will never purchase a Samsung-branded device. Sure, that stinking company still gets my money due to their expertise in chip manufacturing, screens, etc., but at least I will control what I can control…. the brand of product that I purchase.

    That said, I recently looked at LED monitors and the Samsung monitors were the nicest. Too bad that I won’t be choosing those.

    1. I am with you. I haven’t used or bought a Samsung device since they copied the iPhone and I actively advise all my friends, relatives and colleagues to avoid them too.

      BOYCOTT SAMSUNG CONSUMER PRODUCTS ! ! !

    2. I buy and remodel homes/condo’s as a side hobby. I’m just starting another and I will never put a Samsung product in these projects (at least what I have control over). While I know Samsung makes components inside many products, I will never purchase a Samsung “branded” product to go into my remodel’s.

      Suck it Samdung!

  5. the ongoing myth that Samsung copied the iPhone is both idiotic and vitriolic.

    Yes, they copied the iPhone because there is no other form factor for a mobile device with a touch screen. Apple has won a court case to designate what parts of the design were patentable. Samsung lost those cases.

    Samsung remains a critical supplier to Apple. Apple is not mad at Samsung like you little diaper assed fuckers. Get over yourselves.

    Samsung’s real problems are like the problems faced by PC makers. The market for the high end of this device type in the Android space is limited. There are also competitors There is no incentive to innovate because the Android user base is mostly mainstream users who don’t
    deem the smartphone to be the point of their existence.

    A smartphone doesn’t make you more productive, smarter or better looking. It provides you with the latest in communicatioon technology; just like the BILLIONS of others just like you.

    1. It would be myth if it weren’t true, but it is true, so it is not a myth; you confirm so in your post, when you talk about the patent verdicts against them for infringement.

      The primary reason why most Apple fans here are profoundly annoyed at Samsung is because the coincidences just keep piling on. Samsung was in the mobile phone business for decades (well before Apple joined). They made smartphones well before Apple; only they looked nothing like the iPhone. Samsung smartphone was a copy of Blackberry (even the name was similar enough to confuse non-English speakers: BlackJack). When iPhone appeared, they switched from copying Blackberry to copying iPhone, and it was painfully obvious to everyone. As Apple started introducing model names with numbers, Samsung responded with numbers (iPhone 4 — Galaxy 4; iPhone 5 — Galaxy 5, etc.), and let’s not forget Galaxy edge plus (??)… Feature after new feature, whatever appears on the iPhone is virtually guaranteed to appear next year on Samsung; from voice assistant, to fingerprint sensor, to force-touch display, to NFC payment system…

      While a court battle is a futile exercise with little to no end benefits, it is fairly obvious that Samsung’s design and engineering tends to take many more clues from Apple than any other competing brand (unless we include no-name Chinese knock-off shops). The vitriol isn’t coming from nowhere.

    2. “No other form factor”?

      Really, I would have to disagree. Any of the phone manufactures could have came up with a different design and still had a touch screen. Samsung, along with others blatantly copies the shape, button location, screen size, color, and even the icons.

      I’m sure you are just a troll but your comments don’t hold water. That or you have absolutely no creativity or critical thinking skills. Plus, if you don’t think people at Apple are not mad with Samsung, you are smoking crack.

      “Little diaper a$$…..”!? At least we’re not paid dick suckers.

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