samsung

Samsung Chief Jailed For 2.5 Years Over Corruption Scandal

January 18, 2021 9:17 am

The de facto chief of South Korea’s Samsung business empire was convicted Monday over a huge corruption scandal and jailed for two and a half years, in a ruling that deprives the tech giant of its top decision-maker.

Lee Jae-yong, vice-chairman of Samsung Electronics, the world’s biggest smartphone and memory chip maker, was found guilty of bribery and embezzlement in connection with the scandal that brought down president Park Geun-hye.

Read Also: Samsung Heir Avoids Arrest Over Controversial Merger

Lee ‘actively provided bribes and implicitly asked the president to use her power to help his smooth succession’ at the

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Samsung Heir Avoids Arrest Over Controversial Merger

June 9, 2020 5:09 pm

A South Korean court on Tuesday declined to issue an arrest warrant for the heir to the country’s Samsung empire over a controversial merger of two business units seen as a key step to his succession.

Lee Jae-yong, vice chairman of Samsung Electronics, is already being re-tried on charges of bribery, embezzlement and other offences in connection with a corruption scandal that brought down former South Korean president Park Geun-hye.

The merger case is separate from his ongoing retrial, but adds to the difficulties for the Samsung group, by far the biggest of the family-controlled conglomerates, or chaebols, that dominate …

South Korea Court To Rule On Arrest Warrant For Samsung Heir

June 8, 2020 5:12 pm

The heir to South Korea’s Samsung empire appeared in court Monday as judges deliberate on whether to detain him over a controversial merger of two business units seen as a key step to his succession.

Dressed in a dark suit and wearing a face mask due to the coronavirus, Lee appeared grim-faced as he entered the Seoul courthouse on Monday without answering questions from reporters.…

Samsung Heir Apologises Over Corruption Scandal

May 7, 2020 6:49 am

The heir to the Samsung empire bowed in apology Wednesday for company misconduct including a controversial plan for him to ascend to the leadership of the world’s largest smartphone maker.

Lee Jae-yong is vice-chairman of Samsung Electronics and was jailed for five years in 2017 for bribery, embezzlement and other offences in connection with the scandal that brought down South Korean president Park Geun-hye.

The 51-year-old was released a year later on appeal but is currently undergoing a retrial.

“We are recognised for our top-class technology and products but the public eye towards Samsung is still critical,” Lee said.

“This …

Samsung Profits Plunge 56% In Third Quarter

October 31, 2019 3:26 am

Samsung’s operating profit plunged 56% in the third quarter compared to last year as the company continues to struggle with sluggish demand for memory chips. But the company said chip sales should pick up in 2020, drawing a line under the prolonged industry downturn.

The South Korean technology giant on Thursday reported operating profit of 7.8 trillion Korean won ($6.7 billion) for the quarter ending September.

That’s down from 17.57 trillion Korean won ($15.1 billion) for the same period a year ago. Sales fell 5% to 62 trillion won ($53 billion) from the same period last year but improved 10%

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Samsung Updates Software To Fix Fingerprint Unlock Problem

October 23, 2019 12:15 pm

Samsung Electronics Co Ltd has updated software to fix problems with fingerprint recognition features on its flagship Galaxy S10 and Note 10 smartphones, it said on Wednesday.They issued an apology through its customer support app Samsung Members and told its Galaxy phone users to update their
biometric authentication to the latest software version.

A British user told The Sun newspaper that a bug on her Galaxy S10 allowed it to be unlocked regardless of the biometric data registered in the device.

The company has said the issue can happen when patterns appearing on certain protectors that come with silicon cases

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Samsung in trouble for ‘misleading’ phones’ commercials

July 4, 2019 10:51 am

The world’s largest smartphone maker did not know or sufficiently test the effects of pool or saltwater exposure on its phones when ads showed them fully submerged, the Australian Competition and Consumer Commission (ACCC) lawsuit says.

The case is the first filed by a major regulator and could result in multi-million dollar fines. It centers on more than 300 advertisements in which Samsung showed its Galaxy phones being used at the bottom of swimming pools and in the ocean.

“The ACCC alleges Samsung’s advertisements falsely and misleadingly represented Galaxy phones would be suitable for use in, or for exposure …