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Samsung reportedly launches internal review of its mobile division
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Samsung s mobile business is under review following weak Galaxy S21 sales
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Samsung Group heir Jay Y. Lee arrives at a court in Seoul
SEOUL (Reuters) – Shares in Samsung Electronics and affiliates rebounded on Tuesday, reversing losses stemming from Samsung Electronics Vice Chairman Jay Y. Lee’s receiving a two-and-a-half year prison term on Monday.
Analysts said the short-lived impact of Lee’s detention on share prices is similar to what happened the first time Lee was imprisoned in 2017, despite what may be more reactivity to news and rumours because of increased retail investor participation in the stock market.
But corporate governance experts fear Lee’s pledge to make compliance a top priority may lose steam, especially because it is no longer a part of his case for leniency.