Business Billion Dollar Bonus At Samsung
2014/01/08Despite a poor Q4, Samsung paid $1 billion in bonuses to mark the 20th anniversary of Chairman Lee Kun-hee’s strategy to make Samsung a world leader.
“Change everything except your wife and children,” Lee told his employees back in 1993, six years after taking over the top job from his father who founded Samsung.
Q4 profit was down 18% on Q3 at $7 billion on sales of $57billion.
Although it was not stated as such by Samsung, it is thought that falling margins on smartphones accounted for the sharp drop in profitability.
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