Shake up in Samsung board for improve governance, decision-making

Samsung announced a revamped board structure against a backdrop of criticism over its practices, although the changes were not especially wide-reaching. At its annual shareholder meeting, Sang-Hoon Lee, president, and former CFO was appointed the chairman, marking the first time this role was split from the CEO position. “The separation will further empower the board […]

Samsung unveils new S9 phone with augmented reality features

Samsung launches its new flagship smartphone on Sunday with a focus on augmented reality features as it seeks to keep its title as the world’s biggest smartphone maker. The South Korean firm showcased the Galaxy S9 on the eve of the official start of the Mobile World Congress in Barcelona, which comes after a year […]

Samsung targeting $10bn sales in India over 2018

Samsung is targeting $10 billion worth of sales in India over the course of this year, The Economic Times reported Monday, citing an unnamed company official. The tech giant’s performance in the South Asian country is expected to be largely fueled by select consumer electronics categories such as smartphones, appliances, and TVs, with its main […]

Samsung tops list of capital spenders in 2017 with $44bn.

Samsung

South Korea’s Samsung Electronics Co. spent $44 billion in 2017 on capital expenditure than any other publicly traded company, according to S&P Global Market Intelligence report. The report shows how technology and telecommunications firms are driving an uptick in manufacturing investment. The South Korean tech giant nearly doubled its investment in new or existing facilities […]

Nokia earnings fall short of forecasts amid weak demand for network equipment.

Finnish network operator, Nokia Corp. has disclosed Thursday an abrupt drop of seven percent in its quarterly earnings from its telecommunications and network equipment business, saying global demand for the aforementioned equipment remains weak. The Finland-based network operator blamed the market saying it had become more challenging due to tough competition in China and consolidation […]

Transferwise resumes Nigeria money transfers after 17-month break, citing confidence in naira

Money transfer company Transferwise has resumed remittances to Nigeria after a 17-month break, having confidence in the central bank’s handling of the naira, Kristo Kaarmann, its chief executive said Friday, according to Reuters report. Remittances or money transfers make up the second-largest source of foreign exchange receipts in Africa’s biggest economy, after oil revenues. Around […]