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    A005930   KR7005930003

SAMSUNG ELECTRONICS CO., LTD.

(A005930)
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Apple Korea, under antitrust probe, proposes $84 million to support small businesses

08/23/2020 | 11:23pm EDT
The logo of Apple is seen on a product displayed at a store in Seoul

Apple Inc.'s South Korean unit has proposed measures to address antitrust concerns and offered to provide 100 billion won ($84.02 million) worth of support programmes for small businesses, consumers and others, the country's competition watchdog said on Monday.

Apple Korea has been under investigation by the Korea Fair Trade Commission over allegations it abused its dominant position by forcing mobile carriers to pay for advertising and warranty repairs, the commission has said.

Apple has agreed to fix "unfair" terms with mobile carriers as part of its proposal, the KFTC said in a briefing. For example, Apple will discuss how to share advertising costs with telecoms firms, which will help reduce burdens to carriers, the KFTC said.

Apple Korea was not immediately available for comment.

Out of the 100 billion won, Apple pledged to offer 40 billion won to build a centre to support research and development for Korea's small manufacturers and 25 billion won to establish an "academy" to provide education to developers. Another 25 billion won will be used to give consumer discounts on warranty repair costs and other benefits.

The regulator will close the case without concluding whether Apple did anything illegal if it finds the proposed remedies reasonable after collecting public opinion.

In 2019, Apple held an 18% share in South Korea's mobile phone market, the home turf of Samsung Electronics, which controlled 65% of the market, according to data from researcher Counterpoint.

Apple faces antitrust pressure in other countries. In March, French regulators fined Apple 1.1 billion euros ($1.23 billion), saying the iPhone maker was guilty of anti-competitive behaviour toward its distribution and retail network. Apple said at that time that it would appeal to the decision.

(s$1 = 1,190.1300 won)

(Reporting by Hyunjoo Jin. Editing by Gerry Doyle)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 0.98% 127.35 Delayed Quote.-4.02%
KT CORPORATION 0.30% 33050 End-of-day quote.37.71%
LG UPLUS CORP. -0.63% 15650 End-of-day quote.33.19%
SAMSUNG ELECTRONICS CO., LTD. 0.00% 81000 End-of-day quote.0.00%
SK TELECOM CO.,LTD 1.83% 334000 End-of-day quote.40.34%
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Financials
Sales 2021 268 025 B 240 B 240 B
Net income 2021 36 225 B 32,5 B 32,5 B
Net cash 2021 107 662 B 96,5 B 96,5 B
P/E ratio 2021 14,5x
Yield 2021 2,00%
Capitalization 544 693 B 488 B 488 B
EV / Sales 2021 1,63x
EV / Sales 2022 1,40x
Nbr of Employees -
Free-Float 82,7%
Chart SAMSUNG ELECTRONICS CO., LTD.
Duration : Period :
Samsung Electronics Co., Ltd. Technical Analysis Chart | A005930 | KR7005930003 | MarketScreener
Technical analysis trends SAMSUNG ELECTRONICS CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 37
Average target price 106 162,16 KRW
Last Close Price 81 000,00 KRW
Spread / Highest target 63,0%
Spread / Average Target 31,1%
Spread / Lowest Target -2,47%
EPS Revisions
Managers and Directors
NameTitle
Hyun-Suk Kim Co-President, Co-CEO & Director
Dongjin Koh Co-President, Co-CEO & Director
Kinam Kim President, Co-CEO & Director
Tae Moon Roh Co-President & Head-Research & Development
Hee-Chan Roh Chief Financial Officer
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