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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Samsung Electronics Co., Ltd.    A005930   KR7005930003

SAMSUNG ELECTRONICS CO., LTD.

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

08/23/2020 | 11:23pm EST
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. 0.81% 117.06 Delayed Quote.58.05%
KT CORPORATION 0.63% 24100 End-of-day quote.-10.74%
LG UPLUS CORP. 4.82% 11950 End-of-day quote.-15.85%
SAMSUNG ELECTRONICS CO., LTD. 2.10% 68000 End-of-day quote.21.86%
SK TELECOM CO.,LTD 1.31% 232000 End-of-day quote.-2.52%
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Financials
Sales 2020 238 378 B 216 B 216 B
Net income 2020 27 228 B 24,6 B 24,6 B
Net cash 2020 94 252 B 85,3 B 85,3 B
P/E ratio 2020 16,5x
Yield 2020 2,15%
Capitalization 457 994 B 414 B 414 B
EV / Sales 2020 1 921x
EV / Sales 2021 1 731x
Nbr of Employees -
Free-Float 82,9%
Chart SAMSUNG ELECTRONICS CO., LTD.
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Samsung Electronics Co., Ltd. Technical Analysis Chart | A005930 | KR7005930003 | MarketScreener
Technical analysis trends SAMSUNG ELECTRONICS CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 40
Average target price 77 875,00 KRW
Last Close Price 68 000,00 KRW
Spread / Highest target 32,4%
Spread / Average Target 14,5%
Spread / Lowest Target -11,8%
EPS Revisions
Managers
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
Jae-Wan Park Chairman
Sector and Competitors
1st jan.Capitalization (M$)
SAMSUNG ELECTRONICS CO., LTD.21.86%412 799
APPLE INC.58.05%1 972 719
XIAOMI CORPORATION146.75%82 757
WINGTECH TECHNOLOGY CO.,LTD9.69%19 210
FITBIT, INC.9.44%1 959
MERRY ELECTRONICS CO., LTD.-16.72%1 024