Samsung Electronic's Galaxy S8 and S8+ are displayed at its store in Seoul, South Korea, April 27, 2017. REUTERS/Kim Hong-Ji
SEOUL: Samsung Electronics Co Ltd on April 27 flagged stronger earnings and announced a cancellation of treasury shares after posting a solid first-quarter profit boosted by the memory chip business, sending its shares to a new high.
Samsung rejected a call from US activist hedge fund Elliott to split itself in two but accepted part of the fund's proposals on April 27, revealing plans to cancel its existing treasury shares worth over US$35bil (RM152.33bil) by 2018.
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