As Some Shareholders Call For Split, Samsung Will Announce Plans To Boost Value

2016 has been a rough year for Samsung. Starting from the Galaxy Note incident, which entailed two recalls and an 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.

 

Also, the electronics giant 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 which is 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.