At Samsung Electronics (XKRX:005930), Lee Jae Yong has taken the reins of the company since his father’s hospitalization. During his short tenure, he has already proposed a $2 billion buyback and disposed of stakes in chemicals and defense businesses. The market is optimistic that such restructuring will also lead to better corporate governance and a renewed focus on core markets, including consumer televisions, smartphones and smart home software. We look to new cell phone models from Samsung’s research & development labs to lead its low-cost competitors.
From Bernard Horn (Trades, Portfolio)’s Polaris Global Value Fund Q4 2014 Shareholder Letter.
