Reported 5 days ago
Samsung Electronics shares surged after the company announced a $7.2 billion buyback plan, aiming to buy back 10 trillion won of its stock over the next year. Despite concerns over its memory chip business lagging in the AI market, analysts see the buyback as a positive move to bolster stock prices and strengthen control by the founding family. The initiative follows a year where the stock has dropped about 28%, coinciding with a potential management reshuffle as Samsung strives to enhance its competitiveness in the semiconductor industry.
Source: YAHOO