Samsung mobile division execs return part of bonuses
Published : 2014-07-18 20:49
Updated : 2014-07-18 20:49
Executives of Samsung Electronics’ mobile division returned about one-fourth of the bonuses they received for the first half of this year after the unit posted lackluster second-quarter earnings on slow smartphone sales, industry sources said Friday.
More than 100 executives in Samsung’s IT and mobile division reportedly returned a combined 3 billion won ($2.9 million) worth of their regular incentives, also known as the target achievement incentive.
TAI is distributed every six months based on the performance of each business division. So far, the mobile division had been one of the major beneficiaries of this bonus.
Last week, Samsung, the world’s biggest technology firm by revenue, estimated that its second-quarter operating profit would fall to 7.2 trillion won.