Science & Technology

Samsung unveils QLED TV in Nigeria

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Samsung Electronics on Saturday unveiled its 2019 QLED TV line in Nigeria, offering a free Samsung UHD or FHD TV for buyers between July and August.


Mr Dudu Mokholo, Chief Marketing Officer, Samsung Central Africa, made this known at the launch of the Samsung QLED 8K in Lagos.

Mokholo said that 2019 QLED line was designed for users who wanted the best combination of picture quality, smart TV capabilities and design.

According to him, this year’s line-up represents Samsung’s largest screen size ever offered.

“It brings together innovative feature enhancements and exciting contents and service partnerships to deliver a truly ground-breaking viewing experience and unprecedented value.

“The 2019 TV line is now available at selected stores and powered by Samsung’s proprietary Quantum Processor.

`The TV line-up features more screen size options, stunning picture quality enhancements, dazzling colours from every angle, exciting new design elements and intuitive smart TV upgrades.

“As part of this special launch, those who purchase a 2019 QLED TV between July and August 2019 will receive a Samsung UHD or FHD TV for free,’’ he said.

Mokholo said that 2019 Samsung Smart TVs offers more convenient content experience and even more ways for users to discover and watch contents.

“It features an improved Artificial Intelligence algorithm that leverages on user’s subscription services, favourite content and TV viewing habits to offer customised recommendations about what to watch,’’ he said.

According to him, users will be able to leverage on the new voice command on 2019 QLED TVs and soon use Amazon Alexa and the Google Assistant to easily control their TVs and access their contents through voice commands.

“They can quickly and easily navigate their contents with Samsung’s OneRemote.

“With the addition of Far Field Voice Capability on the OneRemote, users can use voice commands to control their TV even if they are across the room from their remote,’’ he said.

Mokholo said that that Samsung’s QLED line-up offers 4K and 8K models in a range of sizes to suit the needs of every home and every lifestyle.

https://nnn.ng/samsung-unveils-qled-tv-in-nigeria/

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S. Korean prosecutors seek arrest warrant for Samsung heir over accounting fraud

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The Seoul Central District Prosecutors’ Office asked a Seoul court to arrest the heir of Samsung Group, the country’s biggest family-controlled conglomerate, on charges of illegal trading and market price manipulation under a capital market act and accounting fraud under an act on external audit of corporation.

The country’s financial regulator ruled in November 2018 that the biopharmaceutical unit of Samsung Group violated accounting rules, referring the case to the prosecution office for criminal investigation.

Samsung BioLogics has been suspected of committing a fraudulent accounting to help the Samsung heir inherit a management control over the entire group from his ailing father Samsung Electronics Chairman Lee Kun-hee.

Samsung BioLogics altered the method to evaluate its affiliate, Samsung Bioepis, into the mark-to-market valuation in 2015, leading to a net profit of 1.9 trillion won (1.6 billion U.S. dollars) in the year after years of losses.

The biopharmaceutical unit of Samsung, set up in 2011, launched a joint venture, Bioepis, with a United States-based Biogen in 2012.

In 2015, Cheil Industries and Samsung C&T merged into Samsung C&T, the currently de-facto holding company of Samsung Group. Cheil Industries, controlled by Lee at the time, inflated its valuation by overvaluing Samsung Biologics.

Lee was believed to have controlled the merged Samsung C&T, one of major shareholders of Samsung Electronics, and the Samsung family was believed to have controlled Samsung Group with a fraction of shares through cross-shareholding.

The financial market regulator estimated the fraudulent accounting at about 4.5 trillion won (3.7 billion U.S. dollars).

(XINHUA)

https://nnn.ng/s-korean-prosecutors-seek-arrest-warrant-for-samsung-heir-over-accounting-fraud/
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S/Korea seeks arrest of Samsung heir in succession probe

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South Korean prosecutors have requested an arrest warrant against Samsung Group heir, Jay Y. Lee, they said on Thursday, in the investigation of a controversial 2015 merger and alleged accounting fraud in a suspected bid to aid his succession plans.


The move spells fresh trouble for Lee, who, if arrested, faces a return to jail just a little over two years after being released from detention in February 2018.

Lee already faces trial on a charge of bribery aimed at winning support to succeed ailing group patriarch, Lee Kun-hee, and which involved former President Park Geun-Hye, and spent a year in detention until the bribery case was suspended in 2018.

Prosecutors said they sought Lee’s arrest on suspicions of stock price manipulation and audit rule violations among other offences.

Samsung declined to comment.

Shares of Samsung Electronics were up 1.1 per cent, outperforming a rise of 0.2 per cent in the benchmark.

Prosecutors have been investigating suspected accounting fraud at a drug company, Samsung Biologics after the Korean financial watchdog complained the firm’s value had been inflated by 4.5 trillion won ($3.7 billion) in 2015.

Prosecutors contend the violation helped boost the value of its major owner, Cheil Industries, which counted Lee as its top shareholder and merged with Samsung C&T, a de facto holding firm, Yonhap news agency said.

Samsung requested an outside review of the investigation to weigh the validity of the indictment and the Seoul Central District Prosecutors’ Office is following the necessary procedures, it said in a statement.

Last month, prosecutors questioned Lee, 51, over the latest investigation.

He also apologised for a series of controversies around his succession planning.

Lee’s year in detention followed separate charges that he bribed Park to win government support for the 2015 merger, which helped tighten his control of South Korea’s top conglomerate.

AIB

Edited By: Abdulfatah Babatunde (NAN)

https://nnn.ng/s-korea-seeks-arrest-of-samsung-heir-in-succession-probe/
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Samsung sends 300 more workers to China for chip factory expansion

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Samsung Electronics Co., the world’s largest memory chipmaker, said on Friday that it had sent 300 more South Korean engineers and workers to China to complete the expansion of its second chip manufacturing facility there amid the coronavirus pandemic.


Samsung said engineers and workers, including some from its subcontractors, left for the Chinese city of Xian on a chartered flight earlier in the day.

The move came a month after Samsung dispatched 200 engineers to the Xian plant in Shaanxi Province.

Samsung said the workers will be exempted from 14-day mandatory isolation under a fast-track entry system approved by South Korea and China, but they still need to be quarantined for three days even after they all test negative for the virus.

Earlier this week, Samsung Electronics Vice Chairman Lee Jae-yong returned home from his trip to the Xian plant.

The Xian plant is Samsung’s only foreign memory chip factory that makes 3D NAND flash products.

The South Korean tech giant last year revealed it will invest an additional U.S.$8 billion in the plant for expansion.

Edited By: Emmanuel Yashim (NAN)

https://nnn.ng/samsung-sends-300-more-workers-to-china-for-chip-factory-expansion/
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Samsung sets up anti-corruption panel as chief faces trials

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South Korea’s Samsung Group, whose leader faces trials over a bribery scandal involving former president Park Geun-hye, has appointed external experts to a new oversight panel to stamp out criminal conduct, an official has said.


The chief of the committee on Thursday disclosed this in Seoul.

The move came after a judge overseeing Samsung leader Jay Y. Lee’s bribery case in October criticised the top conglomerate for its lack of an effective compliance system.

It said one was needed to prevent wrongdoing by executives and its leaders.

“The timing Samsung chose to make these changes is not that great… and if this committee fails, I will end up hugely disgraced,” said Kim Ji-hyung, a former supreme court judge named to head the compliance and oversight committee, told a news conference.

“Our committee will thoroughly monitor legal risks at Samsung’s top management,” he said.

He said he initially turned down Samsung’s offer because of worries it would end up failing to make improvements and only be used by Samsung to secure favourable court rulings.

He said Lee, Samsung’s de facto leader, pledged to guarantee the panel’s autonomy at a meeting, adding that it will monitor potential misconduct at group companies, including flagship Samsung Electronics.

Although Samsung Group already has a compliance programme in place, the new panel, which will begin work in February, will be run by seven people, mostly outside experts from legal circles and civic groups.

Governance experts aired scepticism, calling the move a gesture to get lenient treatment in court and citing a repeat of criminal offences at Samsung and other family-run conglomerates, despite pledges to improve governance and transparency.

“An effective compliance programme could be operated within the environment, encouraging employees to internally report violation without fearing reprisal.

“But this is not the case at Korean companies,” said Lee Chang-min, a specialist in corporate governance at Seoul-based Hanyang University.

The 51-year-old Lee faces charges that he bribed a friend of former president Park to win government favour over succession planning at the conglomerate.

In August, the Supreme Court overturned an appeal’s court ruling that had given Lee a suspended jail term, raising the possibility of a tougher sentence and potential return to jail.

Executives at Samsung Electronics and biotech affiliate Samsung BioLogics have also been jailed on charges of sabotaging union activities and accusations about a suspected accounting fraud, respectively.

Edited by: Fatima Sule/Muhammad Suleiman Tola

https://nnn.ng/samsung-sets-up-anti-corruption-panel-as-chief-faces-trials/
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