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Samsung employees may be on strike if management fails on salary hike
Last year in June 2021, for the first time in history, Samsung Display employees went on strike against the firm. They went on strike after negotiations with the management on wage hikes failed.
And once again, the South Koren tech giant Samsung Electronics could see its first labor strike in five decades after wage negotiations with unions failed.
According to recent info by KoreanMedia, despite months of negotiations, unionized workers’ representatives filed for mediation at the Korea National Labor Relations Commission, a government agency under the Ministry of Labor.
Samsung Electronics strike on collapsed wage negotiations
The move could lead Samsung and its four unions to a wage settlement within 10 days, which could lead to a strike and shutdown of Samsung businesses ranging from semiconductor chips to electronic gadgets and home appliances. Negotiations can be extended by an additional 10 days by mutual consent.
However, appeals by trade unions for a pay rise, COVID-19 compensation and special leave fell on deaf ears. In a draft agreement proposed in March, Samsung’s internal independent council approved a pay rise of up to 7.5 percent, including a 4.5 percent base pay increase and the company has 114,000 employees.
The draft, which called on unions to raise wages by 10 million won ($8,350) per worker, won $12.9 trillion won in 2021, including a 25 percent bonus on his annual operating profit. In January, the council rejected a proposal for a pay rise.
Earning record revenue in 2021, Samsung has announced plans to offer employees an incentive of up to 200 percent of their monthly base salary, while memory chip operations will be allowed up to 500 percent.
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Samsung ranked first in market share in the global smartphone market in Q3, 2023. TrendForce report says that Samsung led the global Q3 smartphone market, recording a market share of 19.5%.
Overall production in the third quarter increased by 11.5% compared to the previous quarter to 60.1 million units. During the same period, Apple’s production increased by 17.9% to 49.5 million, thanks to iPhone 15.
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Third place was taken by Xiaomi (13.9%), followed by Oppo (12.6%) and Transion (8.6%). 6th place is Vivo (8%). Meanwhile, global smartphone production reached 308 million units, a 13% increase compared to the previous quarter and a 6.4% increase from the previous year.
Huawei’s re-entry into the flagship smartphone market targeting Apple has had a significant impact in China. Huawei is aiming to expand its high-end flagship series, focusing on the Chinese domestic market next year, so Apple “We plan to attack directly”.
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In Q3 2023, Samsung and Apple’s market share slightly declined, while an underdog Chinese phone brand appeared on the top 5 chart. In a recent development, Canalys published market research data for the third quarter, revealing Tanssion as the fifth best-seller globally.
According to the info, Samsung and Apple lead total sales with 20% and 17% market share, yet both have fallen from their 22% and 18% levels in 2022. However, Tanssion, the maker of Tecno, Itel, and Infinix phones, climbed from 6% global market share last year to 9% in 2023, a 50% jump.
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Apart from this, Xiaomi matched last year’s share only by “recovering” from a terrible first half of 2023. At the same time, OPPO has fallen steadily over the past two years, while fellow BBK brand vivo lost the top-5 slot it’s owned for years.
Overall, the global smartphone market underwent a slight drop of 1% in Q3 2023. Bolstered by regional recoveries and new product upgrade demand, the smartphone market recorded a double-digit sequential growth in Q3, ahead of the sales seasons.
Recently, research agency Counterpoint Research published their latest analysis. The report reveals that Samsung continued its leadership in the third quarter of 2023, while Apple remained in the second spot. However, both OEMs faced a decline of 1 percent year over year.
According to CR, slower consumer demand is the main factor in the dwindling sales. The market did see a slight 2 percent growth in Q3 compared to Q2, likely driven by last month’s iPhone 15 series launch. Samsung secured 20 percent market share, while Apple grabbed 16 percent sales.
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The Galaxy A-series was the key driver for the South Korean smartphone maker. Apple came in second with 16 percent of the market while Xiaomi rounded out the top three with its 12 percent share. Oppo (10 percent) and vivo (8 percent) were the remaining brands in the top five charts.
The newly released iPhone 15 series will help Apple score a lead over Samsung in the fourth quarter of the year. The results will arrive by early next year, and it’s expected that the US phone maker could surpass Samsung. Major camera upgrades and USB-C helped Apple register strong sales.