Samsung Group will undertake a major business restructuring next year aiming to restore sluggish profits at Samsung Electronics and other key affiliates. Even though the flagship Samsung Electronics has posted improved earnings in recent quarters, the figures are still lower than those during its heyday in 2013. Analysts expect its operating profits to fall again below the 6 trillion won ($5.14 billion) mark in the fourth quarter. As part of the planned restructuring set to be announced Thursday

Samsung Group said Monday that Samsung Electronics vice chairman and the group’s heir apparent Lee Jae-yong could purchase up to 300 billion won ($260 million) new shares of Samsung Engineering, the troubled plant-making unit. In a board meeting on the day, Samsung Engineering decided to issue new shares worth 1.2 trillion won, or a total of 156 million shares, to improve its financial health. The plant builder suffered an operating loss of 1.52 trillion won during the third quarter of the year

Telecom giant aims to expand dominance across sectors

Samsung Group on Friday announced a total of 294 executive promotions -- the lowest in six years, reflecting a sense of crisis across its key affiliates.The tally was 20 percent down from last year’s 353 and the lowest since 2009 when Samsung reduced executive promotions to 247 following the global financial crisis. The flagship Samsung Electronics, which has struggled to restore profits, suffered a 40 percent drop from 2013 when the company’s record earnings were reflected in the reshuffle. A S

There is widespread speculation that Samsung Electronics may exit from the camera market, given the tech giant’s efforts to restore profits across key affiliates.Samsung has been scaling down its money-losing camera business. Last year, the company combined its camera business into its mobile business division. With no new camera launches since February, the company announced recently it would stop its camera sales in Europe and some Asian markets. What is more, news reports on Thursday suggeste

MID-END HANDSETS WITH PREMIUM FEATURES -- Samsung Electronics unveiled its updated midrange smartphone lineup Galaxy A in Seoul Thursday. The lineup consists of three models, the A7, A5 and A3. The A7 and A5, fitted with a fingerprint sensor, support mobile payment solution Samsung Pay. (Samsung) MID-END HANDSETS WITH PREMIUM FEATURES -- Samsung Electronics unveiled its updated midrange smartphone lineup Galaxy A in Seoul Thursday. The lineup consists of three models, the A7, A5 and A3. The A7 a

  LG RECOGNIZED FOR SUPERIOR DESIGN -- LG Electronics said Thursday its premium fridge Double Magic Space had won the Compasso d’Oro Award, Italy’s highest accolade for design. The company has also won prizes for the high-end fridge at IDEA, iF and Red Dot design awards. (LGE)

Faced with the looming demise of the PC era, the world’s largest software developer, Microsoft, has been shifting its focus toward operating systems for a wider variety of devices, including smartphones and game consoles.The company has been specifically targeting tablet PCs, which are expected to replace desktops and laptops in the coming years. Jang Hong-kook, the head of Microsoft Korea’s device partner business division, delivers a speech at a press meeting in Seoul on Thursday. (MS Korea)Pa

Korea’s enthusiasm for online games may have started with “StarCraft” decades ago, but the fever ― now called e-sports ― has continued to evolve with “League of Legends.”Since its debut in 2011, League of Legends, more widely dubbed “LoL,” has become one of the world’s most popular online games. It is also the highest-earning game that raked in $1 billion last year, according to SuperData, a market research firm. Fueling the global sensation, among other things, are its immensely popular profess

SAN FRANCISCO ― All it took was one phone call in 2009 for Silicon Valley investor Jai Choi to put his money on a fledgling start-up called Coupang.Its founder, Bom Kim, had just dropped out of Harvard Business School with three or four months’ worth of data in hand. He envisioned transforming e-commerce starting in his native Korea through a systematic approach to sales, operations and customer service. Judging by the sharp way Kim answered their questions, Choi recognized his unique understand

LG OLED TV IN NYC -- LG Electronics said Wednesday that it would run a roadshow to display its high-end organic light-emitting diode TVs at Grand Central Station in Manhattan. The event will be held until the end of this month. (LGE)