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Samsung Galaxy Note 7 Crisis Hasn’t Dissuaded This Activist Hedge Fund

October 12, 2016, 2:48 PM UTC
Photograph by Getty Images

Two affiliates of activist hedge fund Elliott Management said its view on Samsung Electronics had not diminished, despite the company ditching its flagship Galaxy Note 7 smartphone.

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Elliott Management, which owns 0.62% of Samsung Electronics (SSNLF), had submitted unsolicited proposals for a radical corporate makeover at the world’s biggest smartphone maker earlier this month.

For more on the future of Samsung after the Galaxy Note 7, watch:

The company also slashed its quarterly profit estimate by a third on Wednesday, taking a $2.3 billion hit after scrapping the Note 7, in what could be one of the costliest product safety failures in tech history.