For Samsung Electronics, the answer was 180-trillion won ($161bn). For Apple, it was $350bn. The question was: how much are you going to contribute to your home economy? But for the smartphone giants’ finance teams, it might just as well have been — what’s the biggest number you can rustle up to impress politicians? On Wednesday, Samsung announced with fanfare its plan to spend that 180-trillion won over the next three years, almost three-quarters of it in South Korea. Apple said in January it will "contribute" $350bn to the US economy over the next five years. The Samsung announcement came a few days after Lee Jae-yong, the vice-chair and de facto CEO, met with finance minister Kim Dong-yeon at a chip factory, Bloomberg News reported. It’s being described as "lending support" to President Moon Jae-in’s efforts to shore up a slowing economy. For both companies, however, these impressive sounding numbers are somewhat routine. Samsung had capital expenditures of 43-trillion won last y...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now