SEOUL, Nov. 15 (Xinhua) -- South Korea's tech giant Samsung Electronics said Friday that it planned to buy back a total of 10 trillion won (7.2 billion U.S. dollars) in its own shares to enhance shareholder value.

Samsung noted that its board of directors authorized the share purchase plan earlier in the day to carry it out in phases over the next 12 months.

In the next three months, 3 trillion won (2.2 billion dollars) in stocks will be repurchased and canceled.

The buyback will be implemented from Nov. 18 this year to Feb. 17 next year, comprising 50.14 million common shares and 6.91 million preferred shares.

The remaining 7 trillion won (5 billion dollars) in the buyback plan will be authorized by the board, which will decide on ways including when and how to use the treasury shares, Samsung added. Enditem

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