Misc.
Lee Jae-yong promoted as Samsung Electronics President
The only son of Samsung Electronics’ Chairman, Lee Jae-yong has been promoted to the post of President in Samsung’s flagship Electronics subsidiary. Jae-yong will also hold its current Chief Operating Officer (COO) position. Meanwhile, Choi Gee-sung, CEO of Samsung Electronics will also assume the position of Vice Chairman in Samsung Electronics. The management reshuffle [...]
Samsung is Asia’s second Cash Rich Company
A report published by Moody’s Investors Service claims that Samsung is the second richest company, in terms of cash in Asia. The leading Cash Rich Company in Asia is China Mobile. About 120 Asian companies were surveyed by the firm whose cash-to-debt ratio was found to be over 400 percent or average balance per [...]
Samsung sends auditors from Korea to audit Australia biz operations
Samsung HQ in South Korea have sent 13 auditors to Australia to check on the region’s operations. The report from Smarthouse claims that the surprise audit is a result of a tip-off from a former Samsung executive alleging irregularities in the sale of second goods. Samsung auditors are currently probing 10-year old transactions and [...]
Earnings Guidance for Q3 2010
Samsung has announced earnings guidance for the third quarter. This guidance is made public to gives shareholders and consumers an estimate about what to expect when the audited results are posted. According to the guidance, in compliance with IFRS, Samsung expects its consolidated operating profit to be somewhere in between 4.5 to 5 trillion [...]
Samsung’s Lee Kun-hee is South Korea’s richest person
A report released yesterday claims that Samsung Electronics’ current chairman, Lee Kun-hee is the richest person in South Korea. Lee Kun-hee has an estimated personal wealth from listed and unlisted companies of 8.73 trillion won or 8 billion US dollars. However, he is not the only wealthy person from Samsung to be featured in [...]
Samsung launches Samsung Takeback and Recycle (Star) Program in India
In a bid to promote e-waste recycling, Samsung India has launched a new initiative called as the Star program or Samsung Takeback and Recycle Program. The initiative will be rolled out nationally in phases where consumers will be able to bring their any Samsung product for recycling. Consumers will be able to dispose their [...]
Samsung Apps downloads cross 4m in South Korea
Samsung’s App Store has reached a milestone in its domestic market. On August 15, Samsung Apps surpassed 4 million app downloads since its launch in December last year. Currently, there are over 700 applications available in the store in various categories and the top downloaded apps in the last few days include Asphalt 5, [...]
Samsung 3D Starter Kit sells for $295 on Amazon
Chances are that you must have got Samsung’s 3D Starter Kit with the purchase of selected 3D product but if you don’t there’s a listing on Amazon that is selling the kit for $295. That’s $55 down from the original retail price. The 3D Starter Kit will give two extra pairs of Active 3D [...]
Samsung rated as best workplace in South Korea
Samsung is rated as the best company to work for in its home country. The result came after a survey conducted by Korean Management Association Consulting that included 3,840 employees and HR executives. Samsung is rated as the best workplace in the manufacturing sector whereas its close telecom partner, SK Telecom tops in the [...]
Samsung initiates independent health review of its semiconductor plants
Samsung has announced to commission an independent health and safety review of all its semiconductor factories. This decision comes after the accusation that Samsung’s semiconductor plants use radioactive elements and is responsible for fewemployees diagnosing with blood cancer. The review commission will be carried out for a year and will have full access to [...]