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Report: Samsung to buy $2 billion worth of shares to improve share price


Last updated: November 26th, 2014 at 12:56 UTC+01:00

A trimming down of its smartphone lineup, some restructuring in management, and Samsung will see its finances go back to the glory days of yesteryear, right? Well, Samsung doesn't think that's enough and is planning to buyback $2 billion worth of its shares in its second share buyback in seven years, as it hopes to improve its declining share price. Samsung's share price has gone down by 12 percent this year, and the company is hoping the buyback will help its share price rise back up again and improve the returns for its shareholders and investors.

It's not a secret that Samsung hasn't been very happy with its financial performance in recent months, as the company's profits have gone down considerably from the record highs they had achieved only a year ago. While changes in its mobile strategy will take time to show any results, Samsung is no doubt hoping the share buyback will offer a quick way back to some of the profitability and value its investors have been used to in the past.