Samsung Electronics executives have reportedly handed back part of their bonuses after weak second quarter results, with the tech giant pinning hopes of a second-half turnaround on new products set to be announced in September.
The Korea Herald reports at least 100 executives at Samsung’s IT and mobile divisions have handed back a quarter of their annual bonuses.
The move came after operating income of the world’s largest smartphone maker fell around 24% in the June quarter to 7.2 trillion won ($A7.1 billion).
Despite the fall in profit and bonus hand back, senior executives at the tech giant told The Korea Times “top Samsung executives aren’t in a panic” over the situation.
The report also notes the tech giant is planning to introduce a number of new devices at IFA (Internationale Funkausstellung Berlin), Europe’s largest consumer electronics trade show. A curved-screen and flat version of the Galaxy Note 4 and Google-powered virtual reality headset are set to be demonstrated at the show.
The IFA runs from September 5 to 10 this year. Last year the show was used by the company to unveil its Galaxy Note 3 phablet and its Galaxy Gear smartwatch, just days before Apple unveiled its iPhone 5c and 5s smartphones.
Andrew Sadauskas is a former journalist at SmartCompany and a former editor of TechCompany.
