“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.
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.]