Tech giant Samsung on Thursday said it expected earnings to further improve in the current quarter, after it reported its best quarterly profit since 2013 thanks to a memory chip boom.
The South Korean company also said it had decided not to adopt a holding company structure, rejecting demands from U.S. activist hedge fund Elliott Management. It also announced a share buyback worth 2.3 trillion won ($2.03 billion).
The first-quarter result supports expectations that the world’s top maker of memory chips, smartphones, and televisions will book record profits in the coming quarter as well as for 2017.
