Samsung Electronics plans $7.2 billion buyback after share price plunges


FILE PHOTO: A visitor uses a Samsung Electronics' flagship smartphone Galaxy S24 during its unveiling ceremony in Seoul, South Korea, January 15, 2024. REUTERS/Kim Hong-Ji/File Photo

SEOUL (Reuters) -Samsung Electronics has decided to buy back shares worth 10 trillion won ($7.17 billion) over a one-year period to boost shareholder value, after shares plunged to more than four-year lows earlier in the week.

It is the first time Samsung Electronics has decided to buy back shares since 2017.

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