Samsung shares rise on ‘desperate’ buyback plan

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The story "Samsung shares rise on ‘desperate’ buyback plan" was covered 11 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 11h ago

Samsung shares rise on ‘desperate’ buyback plan - Financial Times

Quick Summary:

Investors hope the buybacks — Samsung’s first since 2017 — will help reverse a steep decline in its share price.

Samsung is also wrestling with a supply glut in traditional memory chips, its core business, and profitability challenges at its foundry business as it struggles to narrow the gap with leading contract chipmaker TSMC.

Foreign investors have also sold large amounts of stock in Korean battery producer Samsung SDI and auto giant Hyundai Motor following reports that an incoming Trump administration could withdraw electric vehicle subsidies.