As some shareholders call for split, Samsung will announce plans to boost value

Next Story

No Man’s Sky Foundation Update adds base building, new gameplay modes

Like just about everyone else, Samsung had a rough 2016 – though the South Korean company’s year was perhaps even tougher than most. There was that drawn out Galaxy Note incident, which entailed two recalls and a on-going apology parade, coupled with the subsequent recall of 2.8 million washing machines over reports of malfunctions and injuries, including a broken jaw.

The electronics giant also had its headquarters raided multiple times, thanks to a corruption probe involving South Korean president, Park Geun-hye.

In recent months, the company has also faced mounting pressure from shareholders, led by US-based firm Elliott Management to split the company in two. The hedge fund’s plan involves splitting Samsung into an operating company, along with a holding company tasked with ownership.

Tomorrow, Samsung will announce plans to raise shareholder value – a plan that, according to unnamed sources at The Seoul Economic Daily (by way of Reuters) – may involve plans to consider splitting the company as per the recommendation.

We reached out to Samsung US this morning and got a blanket “Samsung doesn’t comment on rumors or speculation” in response. We’ll surely know more when the company holds the aforementioned conference call at 9:30AM local time tomorrow.

Featured Image: TK Kurikawa/Shutterstock