Samsung recently promised to revamp its smartphone strategy in an effort to turn around slumping profits, but in the meantime the company appears to have a short term plan to save some cash. It turns out that J.K Shin, who’s served as chief of Samsung’s mobile products division since 2012, took a pretty severe pay cut earlier this year.
According to a recent regulatory filing spotted by The Wall Street Journal, Shin earned 689 million won (roughly $625,000) in the third quarter of 2014. That’s less than half what he earned in Q2, which came to 1.7 billion won (roughly $154 million). Despite getting handed such a drastic pay cut, WSJ notes that Shin is still on track to bring in about as much as Apple CEO Tim Cook—at least based on last year’s figures for the rival phone-maker.
If Shin can help turn Samsung sales around next year he may be out of the woods. Based on recent rumors the company is planning some pretty bold moves to recapture the high-end smartphone market, so anything’s possible. But if mobile profits continue to slide then Shin’s pay is likely to keep dropping as well.