SEOUL, Jan. 24 (Korea Bizwire) – Samsung Electronics Co. said Tuesday its operating profit for the fourth quarter of 2016 jumped 50.11 percent on year, thanks to rising prices of semiconductors and display panels. Operating profit, which excludes income from subsidiaries, stood at 9.2 trillion won (US$7.89 billion) for the October-December period last year, compared [...]
SEOUL, Jan. 10 (Korea Bizwire) – Samsung Electronics shares are still undervalued despite days of record-breaking price climbs, given the tech firm’s operating profit and product marketability, leading asset managers said in their outlook Tuesday. Samsung Electronics released its 2016 fourth-quarter performance estimate Friday that forecast 9.2 trillion won (US$7.64 billion) in operational profit, up [...]
SEOUL, Jan. 6 (Korea Bizwire) – Samsung Electronics Co. predicted Friday that its fourth-quarter operating profit last year may have jumped about 50 percent on-year, beating market expectations as strong sales of chips and displays appeared to help offset losses from a global recall of the Galaxy Note 7 smartphones. Operating profit is estimated at [...]
SEOUL, Dec. 26 (Korea Bizwire) – Samsung Electronics said Monday that it will present some of its more successful items from its “Creative Lab” projects at the 2017 Consumer Electronics Show coming to Las Vegas next month. The Creative Lab, or C-Lab, is Samsung’s in-house incubation platform that offers Samsung employees the opportunity to turn [...]
SEOUL, Dec. 1 (Korea Bizwire) – Samsung Electronics Co. said Thursday it has retrieved about 67 percent of Galaxy Note 7 smartphones sold in South Korea about three months after it conducted a global recall of the smartphones over a safety risk. Taking into consideration that some owners of the Note 7 had applied to [...]
SEOUL, Nov. 29 (Korea Bizwire) – Samsung Electronics Co. said Tuesday it has been reviewing the “possibility” of creating a holding company structure to improve the company’s corporate structure and enhance its transparency. In a statement, Samsung said it will also increase total dividends in 2016 by 30 percent on year, bringing the annual dividend [...]
SEOUL, Nov. 22 (Korea Bizwire) – Sales of premium electronic products and foreign luxury brands outperformed the overall consumption trend in South Korea as more affluent consumers preferred differentiated products, industry officials said Tuesday. Household spending was sluggish in Asia’s fourth-largest economy, but demand for premium products and luxury goods remained strong this year. To [...]
SEOUL, Nov. 16 (Korea Bizwire) – Samsung Electronics Co., the world’s largest electronics maker, said Wednesday it has acquired NewNet Communication Technologies Inc. of Canada to bolster its mobile network service. NewNet Communication, based in Halifax, Nova Scotia, operates Rich Communications Services (RCS), an advanced messaging system for cell phones. Samsung said the acquisition reinforces [...]
SEOUL, Nov. 14 (Korea Bizwire) – Samsung Electronics Co. said Monday it has signed an agreement to acquire U.S. automotive electronics firm Harman International Industries Inc. for about US$8 billion. With the deal, Samsung will secure “a significant presence in the large and rapidly growing market for connected technologies, particularly automotive electronics, which has been [...]
SEOUL, Nov. 8 (Korea Bizwire) – Prosecutors raided Samsung Electronics Co.’s offices in Seoul on Tuesday amid allegations that it provided illicit favors to the daughter of Choi Soon-sil, President Park Geun-hye’s close friend at the center of an influence-peddling scandal. The prosecution said it raided the offices in charge of external affairs, located in [...]