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    A005930   KR7005930003

SAMSUNG ELECTRONICS CO., LTD.

(A005930)
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End-of-day quote Korea Stock Exchange  -  2022-08-11
60200.00 KRW   +0.50%
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Geely founder's venture completes purchase of majority stake in China's Meizu

07/03/2022 | 11:07pm EDT

SHANGHAI (Reuters) - A venture run by the founder of Chinese automaker Zhejiang Geely Holding announced on Monday it has completed the purchase of a 79.09% stake in smartphone brand Meizu, and that the two firms would work closely on mobile technologies.

The deal by Hubei Xingji Shidai Technology Co Ltd, which was launched by Geely's chairman Eric Li last year as part of a push by the automaker into premium smartphones, was first revealed to the public in June via a statement from China's market regulator. It did not provide financial details for the deal.

Meizu will continue to operate as an independent brand, under Xingji Technology, and they will look to closely collaborate in areas such as software development, the companies said in a joint statement.

Xingji Technology is currently developing a portfolio of next-generation smartphones, mobile devices and wearable smart devices that will utilise "extended reality" technologies, it added.

(Reporting by Josh Horwitz; Editing by Muralikumar Anantharaman)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 2.14% 172.1 Delayed Quote.-3.08%
SAMSUNG ELECTRONICS CO., LTD. 0.50% 60200 End-of-day quote.-23.12%
XIAOMI CORPORATION 0.00% 12.16 Delayed Quote.-35.77%
All news about SAMSUNG ELECTRONICS CO., LTD.
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Financials
Sales 2022 314 023 B 241 B 241 B
Net income 2022 41 542 B 31,8 B 31,8 B
Net cash 2022 118 924 B 91,2 B 91,2 B
P/E ratio 2022 9,43x
Yield 2022 2,49%
Capitalization 404 722 B 310 B 310 B
EV / Sales 2022 0,91x
EV / Sales 2023 0,81x
Nbr of Employees -
Free-Float 83,0%
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Mean consensus BUY
Number of Analysts 38
Last Close Price 60 200,00 KRW
Average target price 84 276,32 KRW
Spread / Average Target 40,0%
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Managers and Directors
Jong-Hee Han Vice Chairman & Co-Chief Executive Officer
Kye Hyun Kyung Co-Chief Executive Officer & Executive Director
Hee-Chan Roh Chief Financial Officer
Han-Jo Kim Chairman
Sang-Gyun Kim Head-Compliance Management
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