Samsung managers give up bonuses due to losses

Samsung launched the Galaxy S5 with big expectations, but so far it seems it isn’t quite meeting the targets its manufacturers meant it to, and it’s costing Samsung.

After a very long time of uprising profit, there seems to be a change in trend. While Samsung is definitely turning a profit, it isn’t quite as much as they had hoped to, and it’s actually less than previous quarters.

That had led to a half-crisis over at the South Korean offices, as they released a statement lowering expectations for investors, and in addition to that they are now taking measures to limit the decline.

Over 200 managers of Samsung had agreed to give up a quarter of their first-half bonuses, in order to help generate money for the company. That’s a bold step, and while the help isn’t tremendous, it just shows you the size of this situations.

The decline in profits is thought to be primarily caused by a slow-down in the market, and by tougher competition by other OEMs. The bonus-returning move should generate Samsung around $2.92 Million.

What do you think, was the move necessary, and what of Samsung’s current situation?