SEOUL, Jan. 23 (Korea Bizwire) – Samsung Electronics Co. said Monday its monthslong probe into what caused some Galaxy Note 7 smartphones to catch fire has established that faulty batteries were the main problem, not the smartphone’s hardware design or software. “Our investigation, as well as investigations completed by three independent industry organizations, concluded that [...]
SEOUL, Jan. 19 (Korea Bizwire) – A Seoul court on Thursday rejected an arrest warrant sought for Lee Jae-yong, Samsung Group’s de facto leader, dealing a blow to investigators who have been accelerating the probe into an influence-peddling scandal centered on President Park Geun-hye and her friend. On Monday, an independent counsel team looking into [...]
SEOUL, Jan. 16 (Korea Bizwire) – The special team of prosecutors probing the corruption scandal surrounding President Park Geun-hye has requested an arrest warrant for Lee Jae-yong, the vice chairman and de facto leader of Samsung Group, on charges of bribery, embezzlement, and perjury. This marks the first time that officials have issued a warrant [...]
SEOUL, Jan. 12 (Korea Bizwire) – Samsung’s heir apparent was questioned by investigators as a bribery suspect Thursday as special investigators in Seoul accelerated their probe into the influence-peddling scandal centered on President Park Geun-hye and her friend. Lee Jae-yong, vice chairman of Samsung Electronics Co., appeared before the investigation team’s office in southern Seoul [...]
SEOUL, Jan. 11 (Korea Bizwire) – A special investigation team looking into an influence-peddling scandal centered on President Park Geun-hye and her longtime friend has summoned Samsung’s heir apparent over allegations the group gave undue financial support to the confidante in return for business-related favors, its spokesman said Wednesday. Lee Jae-yong, vice chairman of Samsung [...]
SEOUL, Jan. 11 (Korea Bizwire) – The recovery rate for Samsung’s defective Galaxy Note 7 in Korea is around 95 percent, meaning that roughly 25,000 of the phablets’ users are still desperately clinging on to a product that has been a disaster for the South Korean tech giant. On Tuesday, Samsung Electronics downgraded the device’s [...]
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. 9 (Korea Bizwire) – Samsung’s surprise surge in 2016 Q4 profit may further close the gap with its U.S. competitor Apple. According to industry watchers, Samsung reported sales revenue of 53 trillion won ($44 billion) with an operating profit of 9.2 trillion won, for an impressive operating margin of 17.36 percent. The value [...]
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 [...]
LAS VEGAS, Jan. 6 (Korea Bizwire) – Samsung NEXT (formerly Samsung Global Innovation Center) today announced at CES the creation of the Samsung NEXT Fund, a $150 million venture capital investment fund, to increase Samsung’s global support of early stage startups pursuing advanced software and services innovation. The Fund enables Samsung NEXT to build upon [...]