Samsung Electronics Q1 net up 46.29 pct on chip business

Samsung rejected a call from USA activist hedge fund Elliott to split itself in two but accepted part of the fund’s proposals, revealing plans to cancel its existing treasury shares worth the equivalent of over 32 billion euros by 2018.

The secrets to its crisis-defying performance: microchips.

Separately, Samsung said it Board of Directors approved plans to cancel the existing treasury shares held by the Company.

The refurbished Note 7s will reportedly cost courageous buyers around 700,000 won ($620), which would be a discount of about 300,000 won ($266) from the first iteration’s 989,890 won ($878) price tag. The other steps involve working with specialists to retrieve heavy metals and properly recycle the device. Data centers around the world are also handling growing amounts of data, with more and more gadgets connected to the internet.

Pre-orders for the Galaxy S8 smartphone launched earlier this month managed to beat analysts’ expectations.

Net profit came to 7.68 trillion won (US$6.78 billion) in the January-March period, Samsung said in a regulatory filing. This is an increase of 3.22 trillion won ($2.85 billion), 48 percent higher than the profit for the same quarter a year before.

Now that the Samsung introduced and prove that the full-screen smartphone device is possible, the mobile industry is now entering into a new era or the mobile designs.

Samsung is still facing some acute headaches.

Samsung denied the reports early on, but later said that they will be releasing a fix for the problem in one of their upcoming updates. “They are doing this in the mid-range segment which is very important for Samsung as well in these markets”, she added. It said such a change carried more risks than benefits. The IFA chief also stated that there are discussions for a keynote by a Korean company’s executive each year.

Investors have called for more transparency in the group’s decision-making process, with U.S. hedge fund Elliott suggesting splitting Samsung Electronics into a holdings firm and an operating unit.