Samsung Electronics Co said it intended to make more international acquisitions after it had invested USD 1 billion in 14 companies since 2010. Samsung Chief Financial Officer Lee Sang Hoon revealed the technology company's plans in a Seoul briefing. Sharp Corp, Novaled AG and Boxee Inc were among the deals mentioned.
The top management of the smartphone maker conducted its first briefing after eight years. The briefing discussed the company's growth strategy after beating Apple Inc in the smartphone market. The event was attended by 400 analysts and technology experts.
According to a Bloomberg report, the shares of Samsung were heading towards their first fall in five years. This was brought about by concerns that the high-end phone market was close to reaching its saturation point as sales of cheaper phones grow.
Hana Daetoo Securities Co Analyst Nam Dae Jong told Bloomberg, "Samsung wants to communicate better with the market, the quarterly earnings announcement used to be the only channel that market observers and investors could use. The event should give a clearer outlook on the company in the longer term."
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