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Electronics

Samsung eyes 'meaningful' M&A deals over next three years

South Korean tech giant's profit jumps 26% in Q4 as leader starts jail term

Samsung has enjoyed strong demand for memory chips and displays amid an economic rebound since the middle of 2020.   © Reuters

SEOUL -- Samsung Electronics said on Thursday that it is eyeing "meaningful" mergers and acquisitions in the next three years despite its de facto head, Vice Chairman Lee Jae-yong, returning to prison last week to serve a two-and-half year sentence.

"We are positive we can execute M&As of meaningful sizes during this business term," CFO Choi Yoon-ho said in the company's fourth-quarter earnings call, referring to the period between 2021 and 2023. "The increasing cash is a burden on the company. We will do our best to reduce such a risk."

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