NEW YORK, NY - OCTOBER 11: People walk by the new Samsung store in lower Manhattan on October 11, 2016 in New York City. Less than two months after its launch, Samsung Electronics has announced that it is discontinuing its flagship Galaxy Note 7 smartphone after repeated reports of fires starting in the phones. Spencer Platt/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==
NEW YORK: US hedge fund Elliott Management expressed confidence in South Korea’s embattled Samsung group, saying that despite the crisis over its fire-prone Galaxy Note 7 smartphone it remains a “world-class brand.”
Elliott units Blake Capital and Potter Capital – which together hold 0.62% of Samsung Electronics – only a week ago called for the company to be split in two and its boards to be revamped.
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