Samsung seen tapping US$55b cash pile for share buyback
Removing more than US$1 billion of stock from the market could prompt shares to rally by as much as 20 per cent
Seoul
INVESTORS in Samsung Electronics Co are watching their holdings plunge as new Galaxy smartphones get a lukewarm public response. With US$55 billion in cash, the company may be poised to offer consolation.
Analysts expect the world's biggest smartphone maker to buy back shares as early as this month in an effort to return some value to stockholders. Removing more than US$1 billion of stock from the market could prompt shares to rally by as much as 20 per cent, according to the top-ranked analyst covering Samsung, potentially erasing their declines this year.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Technology
Garmin’s Q1 results beat on strong demand for fitness, auto products
Foxconn’s musical chairs sound like punk rock
US sets up board to advise on safe, secure use of AI
Regulate AI? How US, EU and China are going about It
Meta’s results are best viewed through rose-tinted AI glasses
'Harvesting data': Latin American AI startups transform farming