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Facebook’s Zuckerberg Meets Samsung to Discuss Partnerships

by Jungah Lee & Sangwon Yoon, courtesy Bloomberg

Mark Zuckerberg, seeking to boost advertising sales from mobile devices, discussed potential partnerships with Samsung Electronics Co., according to the head of the South Korean company’s handset division.

Zuckerberg and Samsung President Shin Jong Kyun also discussed the state of the information-technology industry, Shin said outside the company’s Seoul offices. Zuckerberg left the building without answering questions.

iPieDFsNVZaM[1]Mark Zuckerberg, chief executive officer of Facebook Inc., left, is greeted by Lee Don Joo, president of sales and marketing of the mobile communications division at Samsung Electronics Co., as he arrives at Samsung’s Seocho office building in Seoul, South Korea.

Mark Zuckerberg, chief executive officer of Facebook Inc., left, is greeted by Lee Don Joo, president of sales and marketing of the mobile communications division at Samsung Electronics Co., as he arrives at Samsung’s Seocho office building in Seoul, South Korea. Photographer: SeongJoon Cho/Bloomberg

The Facebook founder has pledged to invest in products that will reward investors disappointed by the 37 percent slump in shares since the Menlo Park, California-based company’s initial public offering in May 2012. Facebook, owner of the world’s most popular social-networking site, is trying to get users to spend more time on its mobile services, while Samsung is the world’s largest manufacturer of smartphones.

Zuckerberg in April unveiled Home, software for smartphones that makes it easier to access social-networking features such as friends’ photos, messages and status updates on a device’s home screen. Samsung, the world’s biggest maker of smartphones, and Taiwan’s HTC Corp (2498). were the first makers to feature the application on handsets that run Google Inc.’s Android operating system.

Facebook doesn’t have any comment on Zuckerberg’s trip, said Seikyu Hong, who represents the company in Seoul.

Earlier today, Zuckerberg met with South Korea President Park Geun Hye for 30 minutes and discussed ways to promote technology startups, according to a statement on her website. Zuckerberg told Park he plans to invest more in Asia’s fourth-biggest economy and use his company as a platform for startups, according to the statement.

Park met Microsoft Corp (MSFT). Chairman Bill Gates on April 22 and Google CEO Larry Page on April 26 in South Korea.

Facebook rose less than 1 percent to $24.21 at the close in New York. The stock has declined 9.1 percent this year, compared with a 16 percent gain for the Standard & Poor’s 500 Index.

Thank you, TiA

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This entry was posted on June 20, 2013 by in BIG DEALS and tagged , , , , , , , .

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