A couple of weeks ago, we were saying that Samsung Mobile boss JK Shin had to make do with a paltry £400,000 salary for Q3 this year. Oh, the humanity!
There’s yet more bad news here as sources of The Wall Street Journal say Samsung is considering big changes at the top. Eek.
Typically, credit goes to anonymous “people familiar with the matter”, with “one of these people” saying that – ultimately – JK Shin’s position as co-CEO could be in jeopardy.
That being the case, it’s suggested that fellow CEO BK Yoon – who’s in charge of televisions among other things – could pick up the reins, ultimately yielding a more streamlined management structure.
Samsung Mobile recently endured its worst quarter in years, owing to increasingly stiff competition from Chinese manufacturers, and bullish projections for the Galaxy S5.
Interestingly, sources say Samsung produced 20% more units of the Galaxy S5 than the Galaxy S4, only to sell 25% fewer in the first three months. The only market more excited for the S5 than the S4 was the US.
Meanwhile, in China, Samsung Galaxy S5 sales were roughly half those of the year-ago Galaxy S4. Ouch.
In related news, a further source says Samsung has ceased stocking fruit baskets in some of its European offices. Seriously.
“The company is not coping with the performance of the business very well,” says the source. “Morale is beaten down.”
It remains to be seen if the South Koreans can turn the tide, but it certainly looks like the days of Samsung utterly dominating the smartphone market are over.