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Samsung blames demand for delay in US sales of new S4

Agence France-PresseApril 25, 2013 03:31
Samsung said Thursday that unexpectedly high demand for its latest flagship smartphone, the Galaxy S4, was behind shipping issues that delayed scheduled sales in the US market. "We are experiencing difficulty in boosting supply in the short term because pre-order demand has been far stronger than we anticipated," said Lee Don-Joo, head of sales and marketing at Samsung's mobile unit. US telecom carriers T-Mobile and Sprint both had to postpone scheduled sales of the S4, citing delays in shipments from the South Korean consumer electronics giant.

Samsung blames demand for delay in US sales of new S4

Agence France-PresseApril 25, 2013 02:00
Samsung said Thursday that unexpectedly high demand for its latest flagship smartphone, the Galaxy S4, was behind shipping issues that delayed scheduled sales in the US market. "We are experiencing difficulty in boosting supply in the short term because pre-order demand has been far stronger than we anticipated," said Lee Don-Joo, head of sales and marketing at Samsung's mobile unit. US telecom carriers T-Mobile and Sprint both had to postpone scheduled sales of the S4, citing delays in shipments from the South Korean consumer electronics giant.

South Korean builders brace for losses as overseas projects go sour

April 21, 2013 18:15
By Hyunjoo Jin and Joyce Lee SEOUL (Reuters) - South Korean construction stocks <.KRXCNST> have lost almost 20 percent of their value this month, falling to levels last seen four years ago, after huge losses at two firms sparked widespread fears of overseas projects going sour. After the 2008 financial crisis, South Korean builders such as Samsung Engineering Co Ltd <028050.KS> and GS Engineering & Construction Corp <006360.KS> won a raft of foreign orders, particularly in the Middle East.

Samsung Heavy bags 462 bln won LNG ship order

April 15, 2013 16:02
Samsung Heavy Industries Co., a South Korean shipbuilder, said Monday that it has clinched a 462 billion won (US$ 410 million) deal to build two liquefied natural gas (LNG) carriers. Under the deal with a joint venture between SK Shipping Co.

Taiwan probes allegations of Samsung wrongdoing

April 15, 2013 09:47
Taiwanese authorities said Monday they had launched an investigation into allegations that South Korean tech giant Samsung hired students to post malicious comments about local rival HTC online. "The case was set up last week after we received complaints," Fair Trade Commission spokesman Sun Lih-chyun told AFP. He said the probe would look into allegations that Samsung engaged in false advertising and that if the allegations were upheld, Samsung and its local advertising agent could face a fine of up to Tw$25 million ($835,000).

Samsung C

April 11, 2013 05:17
Samsung C&T, the construction and trading arm of Samsung Group, is experiencing a decline in its prestige among the Group’s affiliates due to rapid changes in the global business environment and steadily becoming a burden to the conglomerate. According to industry sources, the group’s top management, in the long run, is seeking to redefine the role and function of Samsung C&T headed by CEO Jung Yeon-joo. To this end, it recently decided to transfer a significant number of the firm’s experienced personnel to better performing affiliates, as the company weakens in its fun

Samsung posts early profit estimate, expects $7.7 billion earnings

April 9, 2013 11:41
South Korean manufacturer Samsung has released an early estimate for its January-March operating quarter. The company expects its operating profit to reach 8.7 trillion won ($7.7 billion), beating the average analyst forecast of 8.3 trillion won. ($7.38 billion) Sales increased to 52 trillion ($46.2 billion) won up from 45.27 trillion won ($40.2 billion)in 2012.

Samsung Heavy wins $900 mn order from Nigeria

April 4, 2013 05:31
South Korea's Samsung Heavy Industries said Thursday it had won a $900 million order to build four gas container ships for Nigeria's Bonny Gas Transport. Under the deal with the shipping unit of Nigeria LNG, Samsung will begin delivering the four liquefied natural gas (LNG) tankers to the African nation in 2015, Samsung said in a statement. Nigeria LNG is a joint venture of the state-run Nigerian National Petoleum Corp. -- its biggest shareholder -- and other firms including Shell of the Netherlands and French energy giant Total.

shipbuilders-debt increase

April 3, 2013 20:45
SEOUL, April 4 (Yonhap) -- Combined debt owed by South Korea's seven largest shipyards spiked 44 percent last year as shipbuilders sought more loans from banks and debt sales to cope with falling demand, industry data showed Thursday. According to the data, Hyundai Heavy Industries Co., Samsung Heavy Industries Co., and five other shipyards held a combined 21 trillion won (US$18.8 billion) in debt at the end of 2012, compared with 14.6 trillion won a year earlier. The debt includes bank loans and proceeds from sales of corporate bonds.

conglomerates-corporate tax

March 27, 2013 01:00
SEOUL, March 27 (Yonhap) -- South Korea's top 30 companies paid less corporate taxes in 2012 than a year earlier despite a surge in their net profits, data showed Wednesday. The companies paid corporate tax worth 8.485 trillion won (US$7.64 billion) last year, down 10 billion won from 2011, according to data compiled by CEOSCORE, a Web site that tracks the country's top 10 conglomerates as well as financial firms and state-run companies. The decline comes despite their net income before paying taxes jumping 16.1 percent to 49.14 trillion won in 2012 from a year earlier.
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