Business

Jay Lee of Samsung to face sentencing on bribery charge

Editorial Bureau January 17, 2021

SEOUL (SOUTH KOREA) – For several years, legal issues have overshadowed Samsung Electronics Vice Chairman Jay Y. Lee when he was all set to step out of his father’s shadow and make a name for himself as the head of the tech behemoth. He will face sentencing on a bribery charge on

Tech

Flagship phone may be launched early by Samsung, say sources

Editorial Bureau November 9, 2020

SEOUL (KOREA) – Samsung Electronics Co Ltd may launch its flagship Galaxy S smartphones more than a month earlier than expected. This has been aimed at grabbing market share from Huawei so as to ward off competition from Apple Inc, according to three sources familiar with the matter said. South Korean chip industry officials hope […]

Tech

Lee Kun-hee, titan behind making Samsung a global powerhouse, passes away

Editorial Bureau October 25, 2020

SEOUL (KOREA) – Lee Kun-hee, who built Samsung Electronics, with regard to smartphones, semiconductors and televisions, passed away on Sunday. The company said that he had spent more than six years in hospital following a heart attack. Lee, who was 78, grew the Samsung Group into South Korea’s biggest conglomerate and became the country’s richest […]

Tech

Samsung witnesses a surge in Q-3 profit

Editorial Bureau October 7, 2020

SEOUL (KOREA) – Samsung Electronics Co Ltd’s September-quarter profit likely increased more than a third, triggered by sales of strong smartphone and a slew of order for memory chips from Huawei Technologies Co Ltd, analysts said. Samsung is likely to announce preliminary July-September operating profit and revenue on Thursday. Profit likely rose 35% to 10.5

Asia

Huawei surpasses Samsung to be top handset maker

Editorial Bureau July 30, 2020

SHENZHEN (CHINA) – China’s Huawei Technologies attained the title of biggest smartphone seller from Samsung Electronics in the second quarter. According to data from research firm Canalys, Huawei shipped 55.8 million devices in the April-June period, surpassing Samsung’s 53.7 million. The Chinese company has been put under pressure following US sanctions

Business

Samsung leader in court, awaits decision on if he’ll be jailed again

Jim Stein June 8, 2020

SEOUL (Business) – The de facto leader of Samsung Group, Jay Y. Lee, appeared before a South Korean court on Monday, awaiting a ruling on whether new allegations including accounting fraud and stock manipulation will send him back to jail after more than two years of freedom. Prosecutors on Thursday asked the court to issue […]

Business

South Korea requests arrest warrant for Samsung heir Lee in merger probe

Jim Stein June 4, 2020

SEOUL (Business) – South Korean prosecutors have requested an arrest warrant against Samsung Group heir Jay Y. Lee and two former company executives, they said on Thursday, in an investigation of a controversial 2015 merger and alleged accounting fraud. The move spells fresh legal trouble for Lee, who already faces trial on a charge of […]

Tech

Samsung adding a new memory chip line in South Korea

Jim Stein June 1, 2020

SEOUL (Technology) – Samsung Electronics Co Ltd said on Monday it has begun construction of a new domestic production line for NAND flash memory chips, betting on demand for personal computers and servers as the coronavirus prompts more people to work from home. The world’s largest memory chip maker is targeting the second half of […]

Tech

Samsung heir forced to explain family’s intentions after apology

Ren Leen May 8, 2020

SEOUL (Technology) – Samsung Group heir Jay Y. Lee’s vow to end dynastic succession at South Korea’s biggest conglomerate following three generations of family control sparked skepticism in some quarters and worry in others for the future of the country’s corporate champions. Lee made the surprise announcement on Wednesday saying he would not pass

Tech

Samsung’s Lee apologises over succession; will not hand control to children

Ren Leen May 6, 2020

SEOUL (Technology) – Samsung Group heir Jay Y. Lee, embroiled in a bribery scandal, on Wednesday made a rare apology over controversial succession plans and said he will not hand over management rights to his children at the family-controlled conglomerate. His first public statement in five years came after the Supreme Court in August overturned […]