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Samsung fired three top managers from the failure of Galaxy S5
After Apple announced record-high sales of iPhone and iPhone 6 6 Plus, Samsung shares in trading in Seoul seriously sagged. When in October, the Korean manufacturer has announced a fall to a record over the past three years, the level of profits due to weak sales of Galaxy S5, the shares have fallen even more. In this regard, the company decided to carry out personnel changes in the mobile unit.
Dissatisfied fair falling profits manual Samsung fired three top managers: the head of Strategic Marketing Lee Don-Joo, head of trading Kim Jae-Kwon and Director of R & D Lee Chul-Hwan. Their duties will perform Hong Won-Pyo, previously headed the development of multimedia solutions.
Had previously been reported that Samsung, is also going to dismiss Chonkyun Sin, head of mobile division, at the same time asking him to release the seat Co-Executive Director of the corporation. In his place methyl Pukyn Yong, responsible for household appliances and televisions. Yet 58-year-old Chonkyun Sin remain at the helm: Let’s mobile division has reported about 74 per cent reduction in the profit and loss of market coverage from 35% to 24.7%, while the veteran decided not to leave.
Top manager working in Samsung three decades, under his command was created line of mobile devices Galaxy, thanks to its remote viewing company was able to climb to the very top in the rankings of the leading manufacturers of smartphones.
However, only the dismissal of top managers is not limited. In November, the press leaked the information that is going to reduce manual Samsung smartphones range of 25-30%. Which model will come under possible sanctions, the company did not specify. While reducing line company plans to increase production volumes remaining in the phone market and offer them at lower prices.
Guide Samsung also plans to hold a share buyback of about $ 2 billion to stabilize the financial position of the organization and increase income for their investors. The company hopes that with this step will be able to change the situation on the stock market and the value of the shares will start to grow again. Samsung will hold such a ransom for the first time in seven years, and only the second time in its history.
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