The CEO of Korean electronics giant Samsung is stepping down just as the company is predicting operating profits of $12.8bn for the third quarter, up 179pc on last year.
The profits will be derived from revenues of $54.7bn in the third quarter.
In its previous quarter profits of $12.67bn exceeded Apple’s operating income of $10.7bn for the same period.
The strong performance comes as CEO and vice chairman Kwon Oh-hyun has just decided to step down in the aftermath of the arrest and imprisonment of Lee Jae-yong, head of Samung Group, after being found guilty of bribery and embezzlement.
In a letter to employees …read more
Source:: Silicon Republic News