Samsung’s third quarter was nothing short of a disaster. Pressure at the high end of the smartphone market from Apple and at the low end from Chinese phone vendors squeezed Samsung’s biggest moneymaker from both ends. As a result, the company’s revenue fell 20% on year and its net profit plummeted a horrifying 60%.
Rumors regarding how Samsung plans to respond to its slide have bounced around for the past few weeks, but it looks like the company has finally made its first major change as dozens of executives depart Samsung’s mobile unit.
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