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Weak phone sales prompt Samsung’s handset bosses to give back some of their bonuses

18
Jul
2014

Samsung recently pre-announced second-quarter earnings that badly missed analysts’ consensus. More importantly, of course, Samsung’s profit plummeted to its lowest point in two years. The tech giant’s poor performance was attributed to weakening smartphone sales that have slowed as competition increased at the low end, and we also learned recently that Samsung’s new flagship Galaxy S5 couldn’t even top sales of Apple’s iPhone 5s during its first full month of sales. According to a new report, Samsung’s weakening phone sales have prompted hundreds of managers in the company’s devices division to give back part of their first-half bonuses. Reuters on Friday cited a single unnamed source in reporting that nearly 200 managers working in Samsung’s handset division have voluntarily returned portions

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