Samsung has always been one of the world’s largest Tech Giants in existence. They have a huge amount of revenue, produce world-class flagship phones, have sky-rocketing share prizes, and has succeeded in many sections of technology ranging from making chipsets to skyscrapers.
Samsung recently became the top chipset maker, attributing the achievement to their breakthroughs in making storage chips and various other chips for phones, overtaking Intel, the processor giant. However, Samsung had suffered a setback owing to it’s acting head, Lee Jae-Yong also known as Jay Lee being sentenced for an imprisonment of 5 years for bribery.
Nevertheless, Samsung has received a good news from the Seoul High Court- Jay Lee’s imprisonment of five years has been reduced to two and a half years. He was released from jail today after completing a period of 353 days in prison. This has been termed as the success of Lee’s lawyers.
Jay Lee was found guilty of bribery and corruption. He had allegedly offered money to the former Samsung president Park Geun-Hye to secure a powerful position and to establish control over the Samsung group. Lee is the son of the ailing old Samsung head Lee Kun-hee. The latest verdict has put further blame on previous president Park Geun-hye and her close friend Choi Soon-sil.
The acting head’s lawyers were quoted saying,
“We respect the court’s courage and wisdom to have delivered a not-guilty verdict for our client over the key charges.”
“Yet we will do our best in the next court proceeding to have the remaining charges cleared.”
It appears that Samsung has been doing well, even in absence of Jay Lee as the ruler. However, long term changes in the company are in doubt. Jay Lee might regain his position since he had been released today.
Samsung is now gearing up to launch its flagship phones, the Samsung S9 and S9+. They have provided information that the launch will occur in Mobile World Congress 2018. The phones are rumored to be powered by the Snapdragon 845 and Exynos’s new chip.