Samsung chief fends off £2.5bn suit – and tablets work well, too
Samsung’s run of good news continued today as a billion-dollar lawsuit against the South Korean electronics giant was dismissed, and the company said it doubled its share of the tablet market at the end of last year.
A South Korean court ruled in favour of chairman Lee Kun-hee, dismissing a lawsuit brought by estranged family members that demanded he hand over $4 billion (£2.5 billion) of shares in Samsung companies.
The suit accused Lee, 71, of hiding billions of dollars in shareholdings from his siblings. Lee, who inherited the shares from his father, argued that he had free rein to transfer the shares as the chosen successor.
A ruling against Lee, South Korea’s richest man worth an estimated $8.3 billion, could have forced a reshuffle of his intricate shareholdings across the Samsung group in order to retain control.
Samsung said it had doubled its share of the fast-growing tablet PC market in the final three months of 2012. Its sold 7.9 million Galaxy tablets, up from 2.2 million in the same period a year ago, taking its market share to 15.1%.
Bosses of collapsed banks should be sent to jail, George Osborne told
Feat of engineering: Incredible photographs show construction beneath New York's Second Avenue
Brazil kicks off: World Cup excess draws hundreds of thousands to street protests
World news in pictures
Google challenges US surveillance gagging order
- 1 Diary of Second World War German teenager reveals young lives untroubled by Nazi Holocaust in wartime Berlin
- 2 Breaking the Silence: In the reality of occupation, there are no Palestinian civilians – only potential terrorists
- 3 Uri Geller psychic spy? The spoon-bender's secret life as a Mossad and CIA agent revealed
- 4 Viral video straps colt .45 handgun to a home-use drone
- 5 Vice pulls 'breathtakingly tasteless' fashion shoot glorifying the suicides of famous female authors from Sylvia Plath to Virginia Woolf
iJobs Money & Business
£65000 - £85000 Per Annum: The Green Recruitment Company: The Green Recruitmen...
£400 per day: Orgtel: A top tier banking client urgently requires a Senior Bus...
£250 - £350 per day: Orgtel: Financial Crime Analyst,Midlands, Banking, AML/Sa...
£20,000 - £45,000 OTE: Co-Venture: Working for this company will give you a ch...