Earlier today we reported that Samsung's Galaxy S5 sales in China have plummeted by as much as 50% and with profits following suit, mayhem reigned at Samsung. While three of Samsung's top executives maintained their current positions for the time being (J.K. Shin, B.K. Yoon and Kwon Oh-hyun), three other executives were forced to resign from the company for their poor business performance.
The Korean report posted later this morning Lee Don-joo, chief of the mobile business unit's strategic marketing office, Kim Jae-kwon, chief of the global operations office and Lee Chul-hwan, head of the mobile R&D office are set to resign from their posts due to the disappointing business performance this year.
Lee June, Samsung Groups' communications chief, at a media briefing stated that "Shin has made significant contribution in helping Samsung to become the global No.1 in the mobile market. The president will have another chance to reinvigorate the mobile business in a new business environment."
While the Samsung Group did not unveil any restructuring plan throughout its business units in Monday's announcements, the communications chief stated that the conglomerate would announce their organizational realignment soon after the annual shake-ups for managers next week.
The Galaxy S5 that went on sale in February missed projections by 40 to 50% in the following quarters at a time when Apple's iPhone was experiencing record sales. Apple's roaring iPhone 6 and iPhone 6 Plus demand in Q4 thus far has delivered yet another blow to Samsung's Galaxy S5 and Note 4 which contributed to today's reshuffling at Samsung.