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    A005930   KR7005930003

SAMSUNG ELECTRONICS CO., LTD.

(A005930)
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Google sweetens Fitbit concessions, EU okay in sight - sources

10/16/2020 | 12:51pm EDT

BRUSSELS, Oct 16 (Reuters) - Alphabet's Google has tweaked concessions aimed at allaying EU antitrust concerns about its $2.1 billion purchase of Fitbit, people familiar with the matter said, putting it on course to secure EU approval for the deal.

The world's most popular internet search engine last month offered to restrict the use of Fitbit data for Google ads, facilitate rival makers of wearables seeking to connect to the Android platform and allow third parties' continued access to Fitbit users' data with their consent.

Google revised the package after the European Commission received feedback from rivals and consumers, the people said, declining to provide details. The move could also help stave off a possible EU charge sheet setting out specific concerns.

The EU competition enforcer has to date not sought further feedback from the market, indicating the changes have likely passed muster with the Commission.

The EU competition enforcer, which earlier on Friday extended the deadline for its decision to Jan. 8 from Dec. 23 in agreement with Google, declined to comment.

Google reiterated its previous statement, saying that the deal was about devices and not data. Fitbit shares gained after the Reuters story and were up 1.58% in early U.S. trade.

"The wearables space is crowded, and we believe the combination of Google and Fitbit's hardware efforts will increase competition in the sector, benefiting consumers and making the next generation of devices better and more affordable," Google said.

Concessions so far, however, have failed to appease rivals and customers.

A group of 19 bodies including consumer organisations and privacy advocates in the EU, the United States and Brazil is among the latest critics, issuing a joint letter on Thursday to demand tough concessions from Google.

Fitbit, once the leader in the wearable devices market, had a 3% share of the global wearables market as of the first quarter of 2020, way behind Apple's 29.3% share, as well as Xiaomi, Samsung and Huawei, data from market research firm International Data Corp showed. (Reporting by Foo Yun Chee; editing by Jason Neely and Mark Potter)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.31% 2450 Delayed Quote.39.36%
APPLE INC. -0.22% 133.41 Delayed Quote.0.97%
EURO / BRAZILIAN REAL (EUR/BRL) 0.00% 5.8619 Delayed Quote.-6.70%
SAMSUNG ELECTRONICS CO., LTD. 1.37% 81200 End-of-day quote.0.25%
XIAOMI CORPORATION 0.00% 27.45 End-of-day quote.-17.32%
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Financials
Sales 2021 268 215 B 237 B 237 B
Net income 2021 36 667 B 32,5 B 32,5 B
Net cash 2021 110 755 B 98,0 B 98,0 B
P/E ratio 2021 14,3x
Yield 2021 1,95%
Capitalization 545 887 B 482 B 483 B
EV / Sales 2021 1,62x
EV / Sales 2022 1,41x
Nbr of Employees -
Free-Float 82,7%
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
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 37
Last Close Price 81 200,00 KRW
Average target price 106 162,16 KRW
Spread / Average Target 30,7%
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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