Is buyback plan of the shares announced by Samsung? Why?

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Samsung is a tech giant based in South Korea which makes more money than most of its competitors Xiaomi and Micromax. It holds the leading position in smartphone sales in India. Now it is said that Samsung is planning to buy back $2 billion of its own stock. Is buyback plan of the shares announced by Samsung? Why?

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Is buyback plan of the shares announced by Samsung? Why?

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Samsung Electronics Co Ltd announced a $2 billion share buyback plan. It was influenced by a declining profit being experienced by the company. It is expected to stabilize share price and boost value for shareholders. Similar announcements were also made by Hyundai Co. and Kia Motors Corp, whose buyback plans are similar with Samsung.

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