Samsung deploys cash with $10 billion buyback

Announcement comes after the company posted profit that trailed analyst estimates

1st November, 2015
A customer looks at a display of Galaxy S6 Edge smartphones Picture: Getty

Samsung is tapping its $50 billion cash pile to buy back shares and invest in its components business after struggles in the smartphone division battered investors.

The company will buy back and cancel 11.3 trillion won ($10 billion) of shares and boost capital spending by 14 per cent this year, Samsung said last week. The announcements came after the company posted profit that trailed analyst estimates.

Samsung is struggling for an answer to Apple in high-end smartphones, trying price...

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