0
General

Samsung sells assets to free up cash

Monday 19 September 2016 | 12:21 CET | News
Samsung Electronics has sold stakes in Seagate Technology, ASML Holding, Rambus and Sharp to free up cash and focus on its core business, Bloomberg reports. In a e-mailed statement, Samsung said it sold half of its shares in ASML, its entire 4.2 percent holding in Seagate, its 4.5 percent stake in Rambus, and its 0.7 percent stake in Sharp. According to an unnamed company spokesperson, the total value of the stakes divested was around KRW 1 trillion (USD 891 million). The divestments come after Samsung was forced to issue a recall for the Galaxy Note 7 smartphone due to fire safety issues

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: General
Companies: ASML / Rambus / Samsung / Seagate / Sharp
Countries: World
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Samsung considers corporate split in investor talks - report

Published 28 Nov 2016 09:18 CET | World
Samsung Electronics is considering a possible split into two companies, in talks with its shareholder Elliott Management. The ...

Samsung CEO calls for new start after Note 7 crisis

Published 01 Nov 2016 13:22 CET | World
Samsung Electronics will use its recent crisis with the Note 7 smartphone as a catalyst for a new start, focusing on risk ...

Samsung profits fall on costs of Note 7 recall

Published 27 Oct 2016 08:29 CET | World
Samsung reported third-quarter results down in line with its earlier profit warning, after the recall of its failed Galaxy Note 7 ...

Samsung stops Galaxy Note 7 production

Published 11 Oct 2016 08:07 CET | World | Update: 11 Oct 2016 13:14 CET
Samsung has asked all its partners to stop all transactions with the latest Galaxy Note 7 device while the company looks into ...

Samsung starts Note 7 replacements in South Korea

Published 19 Sep 2016 13:54 CET | Korea, Republic of
Samsung has started the recall of Galaxy Note7 phablets in South Korea. Samsung Electronics distributed 100,000 new Note 7 units ...

US consumer safety commission joins Note 7 recall

Published 16 Sep 2016 09:15 CET | United States
The US Consumer Product Safety Commission has started an official recall campaign for the Samsung Galaxy Note 7. The regulatory ...

Samsung tells customers to stop using Note 7

Published 12 Sep 2016 09:15 CET | World
Samsung Electronics has told customers with its Galaxy Note 7 smartphone to no longer use the phone and turn it in for a new ...

Samsung to recall Galaxy Note 7 after battery problems

Published 02 Sep 2016 12:09 CET | World
Samsung is recalling its Galaxy Note 7 smartphone after finding problems with the device's battery. The company said it's ...





Calendar   /   Industry Events

25 Jan Ericsson Q4 2021
25 Jan F5 fiscal Q1
25 Jan Verizon Q4 2021
25 Jan Microsoft fiscal Q2
25 Jan Uniti Group Q4
25 Jan European 5G Conference
26 Jan AT&T Q4 2021
26 Jan Corning Q4 2021
26 Jan Intel Q4 2021
26 Jan Calix Q4 2021
26 Jan Crown Castle Q4 2021
27 Jan Extreme Networks fiscal Q2
27 Jan Elisa Q4 2021
27 Jan Apple fiscal Q1
27 Jan Juniper Networks Q4 2021
27 Jan STMicroelectronics Q4 2021
27 Jan Samsung Electronics Q4 2021
27 Jan MTN Nigeria Q4 2021
27 Jan Rogers Communications Q4 2021
27 Jan Comcast Q4 2021
27 Jan FCC meeting
28 Jan SK Hynix Q4
28 Jan Charter Communications Q4
28 Jan Telia Lithuania Q4 2021
28 Jan Telia Company Q4 2021
31 Jan KPN Q4 2021
31 Jan Cirrus Logic Q3
31 Jan NXP Semiconductors Q4 2021
31 Jan NEC fiscal Q3
31 Jan Harmonic Q4
::: More Calendar Items