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Business News/ Companies / News/  Samsung Electronics to freeze salaries for first time since 2009
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Samsung Electronics to freeze salaries for first time since 2009

Hyunjoo Jin

The move comes after the company’s profit declined in 2014 for the first time in three years

Samsung’s lead in smartphones has been strongly challenged by Apple and other Chinese smartphone makers. Photo: Reuters (Reuters)Premium
Samsung’s lead in smartphones has been strongly challenged by Apple and other Chinese smartphone makers. Photo: Reuters
(Reuters)

Seoul: Samsung Electronics Co. Ltd will freeze employee salaries this year for the first time since 2009, a spokeswoman for the South Korean company said on Thursday, without elaborating.

The move comes after the company’s profit declined in 2014 for the first time in three years as its lead in smartphones was challenged by Apple Inc. Reuters

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Published: 26 Feb 2015, 11:33 AM IST
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