Samsung vows a comeback with bold M&A plans as shareholder pressure mounts. Admitting missteps in AI and chip tech, executives pledge a turnaround by 2025. With a $7.2B buyback and a push for acquisitions, the tech giant aims to reclaim its lost edge.
Samsung Electronics has announced plans to pursue significant mergers and acquisitions (M&A) as it faces mounting pressure from shareholders over declining stock performance and missed opportunities in the artificial intelligence (AI) boom.
At a shareholder meeting on Wednesday, co-CEO Jun Young-hyun admitted that Samsung was late in responding to market trends, particularly in the high-bandwidth memory (HBM) chip sector, where rival SK Hynix has gained a competitive edge. He pledged that 2025 would be the year Samsung regains its technological leadership.
The South Korean tech giant has struggled with weak earnings, falling behind competitors in advanced semiconductor manufacturing and AI-driven chip demand. In response, Samsung launched a $7.2 billion share buyback plan last year and is considering expanding its stock-based performance system to employees.
Co-CEO Han Jong-hee acknowledged investor concerns and said Samsung is determined to achieve “meaningful” M&A deals, despite regulatory challenges in the semiconductor industry. With its market value at $235 billion and nearly 40% of South Korean investors holding Samsung shares, the company’s future growth strategy will be closely watched.
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The Trump administration has directed about 2,000 California National Guard members to start demobilizing from their federal mission in Los Angeles, the Pentagon announced.
A volcano has erupted in southwest Iceland, spewing lava and smoke from a large fissure, marking the latest in a series of eruptions on the Reykjanes Peninsula since 2021.
President Donald Trump has found a strategy he can support for arming Ukraine: persuading European allies to donate their military equipment, with the United States supplying replacements.
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China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
Chinese automaker Chery has denied an industry-ministry audit that disqualified more than $53 million in state incentives for thousands of its electric and hybrid vehicles, insisting it followed official guidance and committed no fraud.
Hollywood star Sydney Sweeney is reportedly the top contender to become the next Bond girl, as director Denis Villeneuve and Amazon look to modernise the James Bond franchise.
U.S. consumer prices rose at their fastest pace in five months in June, signaling the early impact of tariffs on inflation. However, subdued demand and falling service prices may keep the Federal Reserve cautious about rate changes.
Dashkesan Iron Ore LLC, a subsidiary of CJSC AzerGold, has signed an agreement with China's Sinosteel Equipment & Engineering Co., Ltd. to conduct a feasibility study for building a production chain the Dashkesan iron ore deposits complex.
Tesla's highly-anticipated entry into India has finally happened with the opening of its first showroom — nine years after CEO Elon Musk first hinted at its launch.
An Italian court has placed LVMH group's high-end Italian cashmere firm Loro Piana under judicial administration for a year after allegedly uncovering worker abuse inside its supply chain, in the latest in a string of cases that have tainted the image of Italy's luxury brand.
A Moscow court has ruled that the assets of U.S.-owned canned food company Glavprodukt be handed over to the Russian state, the TASS news agency reported late on Friday, ending a months-long legal tussle over the company.
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