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Samsung's Q2 profit down nearly 96% to hit 14-year low Samsung Electronics on Friday said its second-quarter operating profit likely plunged about 96 per cent from a year earlier, as a chip oversupply and slow demand persisted. The world's largest memory chip and smartphone maker estimated its April-June profit at 600 billion won ($461.2 million), significantly down from the 14.1 trillion won it reported a year ago. It marked the worst quarterly profit in 14 years since the first quarter of 2009, when the South Korean tech giant reporte...
Samsung's Q2 profit down nearly 96% to hit 14-year low
Samsung's Q2 profit down nearly 96% to hit 14-year low
Source: IANS
7/07/2023 12:25:30 PM
South Korean President, OpenAI CEO discuss ways to boost AI cooperation South Korean President Yoon Suk Yeol met with Sam Altman, CEO of OpenAI, the creator of ChatGPT, to discuss a variety of topics regarding artificial intelligence (AI) technologies. "ChatGPT is stirring up a global sensation," Yoon told Altman, who is traveling to meet political and tech leaders around the world. "I asked ChatGPT some questions when writing up my New Year's speech and got some very decent results," Yoon said. Altman suggested South Korea, one o...
South Korean President, OpenAI CEO discuss ways to boost AI cooperation
South Korean President, OpenAI CEO discuss ways to boost AI cooperation
Source: IANS
10/06/2023 12:24:03 PM
Samsung to build $222 mn chip development facility in Japan Samsung Electronics will reportedly build a chip development facility in Yokohama as part of a highly symbolic initiative that will spur collaboration between the Japanese and South Korean chip industries, the media reported. According to Nikkei Asia, the new facility will cost around $222 million and will be built in Yokohama, southwest of Tokyo, where the South Korean company already has a presence. The development hub will be a separate unit. Although the details remain unclear, S...
Samsung to build $222 mn chip development facility in Japan
Samsung to build $222 mn chip development facility in Japan
Source: IANS
15/05/2023 5:39:28 PM
Samsung likely headed for first quarterly loss in 15 years Samsung Electronics is likely to post an operating loss in the second quarter on a chip downturn and decline in mobile demand, in what will be the first quarterly loss for the world's largest memory chip maker in nearly 15 years, analysts said on Sunday. Samsung Electronics could suffer an operating loss of as much as 1.28 trillion won ($961 million), according to an estimate by Hi Investment & Securities Co. Among the local brokerages that gave a similar outlook, SK Securities ...
Samsung likely headed for first quarterly loss in 15 years
Samsung likely headed for first quarterly loss in 15 years
Source: IANS
23/04/2023 12:40:41 PM
Samsung cuts memory chip output, Q1 profit to drop 96% on weak demand Samsung Electronics on Friday said it has cut memory production in the short term, as its quarterly profit plunged significantly (likely 96 per cent) amid the chip downturn, in a sharp departure from its previous position that it would not artificially reduce output. The world's largest memory chip and smartphone maker earlier in the day estimated its January-March operating profit at 600 billion won ($454.9 million), sharply down from 14.12 trillion won a year ago. Samsung blamed s...
Samsung cuts memory chip output, Q1 profit to drop 96% on weak demand
Samsung cuts memory chip output, Q1 profit to drop 96% on weak demand
Source: IANS
7/04/2023 2:51:26 PM
Samsung chief visits chip parts manufacturing unit in China Samsung Electronics' Executive Chairman Lee Jae-yong has visited a semiconductor components manufacturing site in China run by a Samsung affiliate, the company said on Sunday, in the first such trip to the neighbouring country in three years. Lee visited the manufacturing facility in Tianjin, operated by Samsung Electro-Mechanics Co and checked the multilayer ceramic capacitors (MLCC) production line, Samsung Electronics said. It marked Lee's first visit to a Samsung plant in Ch...
Samsung chief visits chip parts manufacturing unit in China
Samsung chief visits chip parts manufacturing unit in China
Source: IANS
26/03/2023 3:24:03 PM
South Korea to invest $172 million in nurturing semiconductor talents The South Korean government and the country's major chipmakers agreed on Thursday to jointly nurture more than 2,300 top-level talents in the semiconductor field over the next decade in an effort to maintain global technology prowess, the industry ministry said. The ministry signed a memorandum of understanding with Samsung Electronics Co., SK hynix Inc. and the Korea Semiconductor Industry Association, which calls for earmarking a total of 222.9 billion won ($171.72 million) together ...
South Korea to invest $172 million in nurturing semiconductor talents
South Korea to invest $172 million in nurturing semiconductor talents
Source: IANS
24/02/2023 11:21:52 AM
Samsung to borrow over $15 bn from display unit for investment  Samsung Electronics plans to borrow more than $15 billion from its display-making subsidiary to secure operational costs, the company has said. The South Korean tech giant said in a regulatory filing that it will borrow 20 trillion won ($15.78 billion) from Samsung Display at an interest rate of 4.6 per cent to "secure working capital." The loan matures August 16, 2025, and amounts to 10.35 per cent of Samsung Electronics' equity capital as of at the end of 2021, rep...
Samsung to borrow over $15 bn from display unit for investment
Samsung to borrow over $15 bn from display unit for investment
Source: IANS
16/02/2023 2:04:06 PM
Apple Pay can be launched in South Korea, says financial regulator South Korea's financial regulator said on Friday that local credit card firms can introduce Apple Pay, the long-awaited mobile payment service of US tech giant Apple, as they have followed relevant procedures. There have been reports for months that Hyundai Card, a local credit card unit of Hyundai Motor Group, is in talks with Apple over the launch of Apple Pay that allows customers to make payments using iPhones and other Apple devices. Market watchers initially expected the servi...
Apple Pay can be launched in South Korea, says financial regulator
Apple Pay can be launched in South Korea, says financial regulator
Source: IANS
3/02/2023 5:04:32 PM
Samsung partners with Qualcomm, Google to build XR ecosystem Samsung Electronics Co has announced that it has partnered with Qualcomm and Google to build an ecosystem for extended reality (XR). The South Korean tech giant announced the partnership at the Galaxy Unpacked event in San Francisco on Wednesday, where it unveiled its new flagship smartphones series 'Galaxy S23' and latest PC lineup 'Galaxy Book3', reports Yonhap News Agency. "We will transform the future of the mobile industry by building the XR ecosystem together ...
Samsung partners with Qualcomm, Google to build XR ecosystem
Samsung partners with Qualcomm, Google to build XR ecosystem
Source: IANS
2/02/2023 5:15:34 PM
Samsung`s Q4 profit drops 69% on sluggish demand, lowest since 2014 Samsung Electronics on Tuesday said its fourth-quarter operating profit plunged nearly 70 per cent from a year ago, as the global economic slowdown hurt the sales of electronic devices and semiconductors that power them. The world's largest mobile phone and memory chip maker said its October-December operating profit shrank 69 per cent from a year earlier to an eight-year-low of 4.3 trillion won ($3.49 billion). It is the tech giant's lowest quarterly operating profit since the ...
Samsung`s Q4 profit drops 69% on sluggish demand, lowest since 2014
Samsung`s Q4 profit drops 69% on sluggish demand, lowest since 2014
Source: IANS
31/01/2023 10:55:46 AM
Samsung-incubated startup TagHive dreams big in South Korea India Among the many startups founded and operating in South Korea, TagHive, an education technology company launched in 2017, is distinguished for its founder and CEO Pankaj Agarwal. Agarwal was born in a small town in northern India and studied at the prestigious Indian Institute of Technology in Kanpur. He started TagHive through Samsung Electronics Co's venture incubator programme, Creative Lab (C-Lab). "I've met some foreign startup business people in Korea, but I think I...
Samsung-incubated startup TagHive dreams big in South Korea India
Samsung-incubated startup TagHive dreams big in South Korea India
Source: IANS
30/01/2023 10:44:09 AM
Geographical diversification of semiconductor chip manufacturing to happen: Moody's The increasing geopolitical pressure will have limited immediate effect on semiconductor supply chains but in the longer term, will lead to geographic diversification of production capacity and investments of Taiwanese semiconductor companies, said Moody's investor Service. This geographic shift will involve substantial investments and raisec economic concerns for Taiwan, and China, which are credit negative for the Taiwanese government and related chipmaking companies, it said. &qu...
Geographical diversification of semiconductor chip manufacturing to happen: Moody's
Geographical diversification of semiconductor chip manufacturing to happen: Moody's
Source: IANS
18/01/2023 5:15:49 PM
Samsung planning to release human assistant robot in 2023 Samsung Electronics is planning to release a human assistant robot named 'EX1' this year. The company said that it sees robots as "a new growth engine," reports SamMobile. "We plan to release a human assistant robot called EX1 within this year," Han Jong-hee, vice chairman and CEO of Samsung Electronics, said at a press conference at Consumer Electronics Show (CES) 2023. The company already has a device named 'EX1' which is a decade-old digital cam...
Samsung planning to release human assistant robot in 2023
Samsung planning to release human assistant robot in 2023
Source: IANS
10/01/2023 4:38:38 PM
Samsung Q4 operating profit likely down 69% on chip price falls Samsung Electronics said on Friday its fourth-quarter operating profit likely plunged 69 per cent from a year earlier due to sliding memory chip prices as an economic slowdown pummelled demand for IT gadgets and servers. The world's largest memory chip and smartphone maker estimated its October-December operating profit at 4.3 trillion won ($3.4 billion), down from 13.87 trillion won a year ago. In an earnings shock, Samsung reported a quarterly operating income of less than 5 trill...
Samsung Q4 operating profit likely down 69% on chip price falls
Samsung Q4 operating profit likely down 69% on chip price falls
Source: IANS
6/01/2023 10:25:51 AM
Samsung Electronics Unveils its New Odyssey, ViewFinity and Smart Monitor Lineups at CES, Igniting the Next Generation of Display Technology SEOUL –Samsung Electronics Co., Ltd. today announced the company will introduce new models in its monitor lineup, expanding its visual display leadership for the users. New offeringsin the Odyssey, ViewFinity and Smart Monitor lineups at CES® 2023 will deliver unmatched image qualityand a range of innovative features for people looking to work, play and live through their monitor display. Samsung is revolutionizing the ultra-wide display category by launching the Odyssey ...
Samsung Electronics Unveils its New Odyssey, ViewFinity and Smart Monitor Lineups at CES, Igniting the Next Generation of Display Technology
Samsung Electronics Unveils its New Odyssey, ViewFinity and Smart Monitor Lineups at CES, Igniting the Next Generation of Display Technology
Source: PR Agency
3/01/2023 3:40:17 PM
Samsung opens $220 mn R&D centre in Vietnam Samsung Electronics has held an opening ceremony for a research and development centre in Vietnam, in what the tech giant said is the largest such facility in the Southeast Asian country set up by a foreign firm. "I expect the R&D centre to contribute to Vietnam's industrial competitiveness and to the relationship between South Korea and Vietnam," Samsung Electronics Executive Chairman Lee Jae-yong said at the opening ceremony in Hanoi, reports Yonhap news agency. The ...
Samsung opens $220 mn R&D centre in Vietnam
Samsung opens $220 mn R&D centre in Vietnam
Source: IANS
24/12/2022 5:29:31 PM
Samsung develops industry's first 12nm-class dynamic RAM Samsung Electronics on Wednesday announced the development of its 16GB dynamic RAM built using the industry's first 12-nanometer (nm)-class process technology. With mass production set to begin in 2023, the company said "its new DRAM will advance next-generation computing, data centres and AI applications with industry-leading performance and greater power efficiency". "With exceptional performance and power efficiency, we expect our new DRAM to serve as the foundatio...
Samsung develops industry's first 12nm-class dynamic RAM
Samsung develops industry's first 12nm-class dynamic RAM
Source: IANS
21/12/2022 4:50:17 PM
Samsung may launch foldable screen laptop next year Samsung is reportedly planning to enter a new device segment -- "foldable screen laptop" next year with a 17.3-inch OLED panel. According to SamMobile, in 2023, Samsung Display plans to produce 8.5 million OLED panels for laptops, a 43 per cent increase over this year. The majority of those panels will go to ASUS, which is currently using LG's foldable OLED panels in its foldable screen laptops. According to market research firm Omdia, the company also intends to sell s...
Samsung may launch foldable screen laptop next year
Samsung may launch foldable screen laptop next year
Source: ians
19/12/2022 8:41:09 PM
Samsung to hold strategy meeting next week amid macroeconomic woes Samsung Electronics will hold a company-wide global strategy meeting starting next week, industry sources said on Friday, amid stiff headwinds from the uncertain macroeconomic environment. The company's device experience division, which oversees the business of mobile phones and home appliances, will convene the meetings next Thursday and Friday, while the device solutions division, in charge of Samsung's mainstay chip business, is said to hold the meetings around December 22. S...
Samsung to hold strategy meeting next week amid macroeconomic woes
Samsung to hold strategy meeting next week amid macroeconomic woes
Source: IANS
9/12/2022 2:15:59 PM
Samsung, Naver partner to develop AI chips Samsung Electronics on Tuesday announced that it has partnered with internet portal giant Naver Corporation to develop next-generation artificial intelligence (AI) chips, as part of efforts to improve efficiency of processing large AI data. Samsung said its cooperation with Naver will create great synergies in developing semiconductors with high efficiency and speed for AI-specific calculations, Yonhap news agency reported. "There are growing needs to develop new types of semicondu...
Samsung, Naver partner to develop AI chips
Samsung, Naver partner to develop AI chips
Source: IANS
6/12/2022 4:09:10 PM
Samsung Electronics appoints its 1st female president  Samsung Electronics on Monday promoted a female executive to the president of global marketing for its mobile business, in the first move to tap a female talent for the top post. Lee Young-hee was promoted to the president of the Global Marketing Center for Samsung's Device eXperience (DX) division that oversees its mobile business. She is the first female president at Samsung, the country's biggest conglomerate, to come from outside the founding family, reports Yonhap new...
Samsung Electronics appoints its 1st female president
Samsung Electronics appoints its 1st female president
Source: IANS
5/12/2022 10:12:10 AM
Samsung to hire 1,000 engineers for cutting-edge R&D in India Samsung on Wednesday said it plans to hire nearly 1,000 engineers from IITs and top engineering institutes to work on cutting-edge technologies at its R&D institutes across India, at a time when Big Tech companies lay off thousands of employees across the globe. The new workforce will join Samsung R&D Institute-Bangalore (SRI-B), Samsung R&D Institute-Noida, Samsung R&D Institute-Delhi and Samsung Semiconductor India Research in Bengaluru next year. The new hires will wo...
Samsung to hire 1,000 engineers for cutting-edge R&D in India
Samsung to hire 1,000 engineers for cutting-edge R&D in India
Source: IANS
30/11/2022 2:10:34 PM
Samsung reaches record-breaking 1.75Gbps download speed at 10km distance Samsung Electronics on Monday announced that it has hit a 5G milestone in a recent field trial conducted in Australia, achieving industry-leading speeds of 1.75 Gbps at a distance of 10 km. The trial was conducted by the NBN Co Limited, a publicly owned corporation of the Australian government, tasked to design, build and operate Australia's National Broadband Network as the nation's wholesale broadband provider. "The results of these trials with Samsung are a significant m...
Samsung reaches record-breaking 1.75Gbps download speed at 10km distance
Samsung reaches record-breaking 1.75Gbps download speed at 10km distance
Source: IANS
8/11/2022 11:02:01 AM
Europe leans on Asia for `homegrown` EV batteries Europe's drive to build a homegrown electric vehicle battery industry is hitting roadblocks as investors shy away from giving startups sufficient funding to challenge the Asian companies that dominate the market. With the notable exception of Sweden's Northvolt, some startups hoping to build so-called gigafactories to compete with the Asian behemoths are going for smaller plants, with the aim of attracting more investment further down the line. Britishvolt is just one of the sta...
Europe leans on Asia for `homegrown` EV batteries
Europe leans on Asia for `homegrown` EV batteries
Source: Reuters
3/11/2022 4:31:57 PM
Samsung appoints ex-trade minister as one of its 2 new outside directors Samsung Electronics on Thursday appointed a former trade minister as one of its two new outside directors at its extraordinary general meeting. Samsung said its shareholders approved the appointment of Yoo Myung-hee -- a former trade minister and deputy minister in charge of negotiations for free trade agreements -- as its new outside director. In June 2020, Yoo was nominated for the director-general of the World Trade Organization but eventually withdrew her bid for the top job in Febr...
Samsung appoints ex-trade minister as one of its 2 new outside directors
Samsung appoints ex-trade minister as one of its 2 new outside directors
Source: IANS
3/11/2022 12:08:27 PM
Samsung promotes group's de facto leader Lee Jae-yong to chairman Samsung Electronics new Chairman Lee Jae-yong called on employees on Thursday to rise up to challenges and to focus more on technology development. "Now is time for us to mount more bold challenges. Our survival depends on future technologies," he said in a message posted on the company's internal forum soon after he was promoted to chairman of the tech giant, the crown jewel of the group. "We can turn this crisis into opportunity... I will stand at the forefront"...
Samsung promotes group's de facto leader Lee Jae-yong to chairman
Samsung promotes group's de facto leader Lee Jae-yong to chairman
Source: IANS
27/10/2022 11:18:24 AM
SK hynix likely to report poor Q3 results amid chip downturn SK hynix, the world's second-largest memory chip maker, is expected to report disappointing third-quarter earnings next week, analysts said, marking a sharp departure from record-breaking performances for the past few years, amid a cyclical downturn of the global semiconductor industry. SK hynix's operating profit for the three months ending in September is estimated at 2.5 trillion won ($1.73 billion), down 38.8 percent from a year earlier, according to FnGuide, a Seoul-based fina...
SK hynix likely to report poor Q3 results amid chip downturn
SK hynix likely to report poor Q3 results amid chip downturn
Source: IANS
22/10/2022 12:42:02 PM
Samsung's Q3 profit estimated to have declined 32% Samsung said on Friday that its preliminary third-quarter operating profit declined by nearly 32 per cent from a year earlier, as the company has faced macroeconomic headwinds that weakened consumer demand for electronic devices. The world's largest memory chip and mobile phone maker said its operating profit for the three months ending in September was predicted to come in at 10.8 trillion won ($7.7 billion), down 31.7 per cent from 15.82 trillion won from the year-ago period. The ...
Samsung's Q3 profit estimated to have declined 32%
Samsung's Q3 profit estimated to have declined 32%
Source: IANS
7/10/2022 11:05:11 AM
No plan to cut chip production despite slowing demand: Samsung  Samsung Electronics is not considering a cut in production of its memory chips despite slowing demand amid concerns over a global economic recession, a senior company executive has said. "There is no internal discussion (about a cut in memory chip production) at the moment," Han Jin-man, executive vice president and head of the memory global sales and marketing at Samsung Electronics, said at the annual Samsung Tech Day in San Jose, California on Wednesday. "Samsung...
No plan to cut chip production despite slowing demand: Samsung
No plan to cut chip production despite slowing demand: Samsung
Source: IANS
7/10/2022 9:20:56 AM
Samsung's Q3 earnings outlook grim amid poor global chip demand  The third-quarter earnings outlooks for Samsung Electronics and SK hynix, the world's top two leading chip manufacturers, remain largely grim due to a recent fall in global demand for memory chips, an industry data analysis showed on Sunday. According to the analysis by Yonhap Infomax of earnings outlooks for the two companies by securities companies within the past month, Samsung and SK hynix were expected to record operating profits of 12.8 trillion won ($9.07 billion) and 2.59...
Samsung's Q3 earnings outlook grim amid poor global chip demand
Samsung's Q3 earnings outlook grim amid poor global chip demand
Source: IANS
25/09/2022 11:18:47 AM
Samsung logs record chip market share, Intel at distant second Samsung Electronics expanded its market share of the global semiconductor industry in the second quarter, maintaining its top spot, a research report showed on Monday. Samsung's chip revenue for the April-June period came in at a record quarterly high of $20.3 billion on the back of solid server demand, taking up 12.8 percent of the global total of $158.1 billion, according to research firm Omdia. Samsung's Q2 share was slightly up from the 12.5 per cent it logged the previous q...
Samsung logs record chip market share, Intel at distant second
Samsung logs record chip market share, Intel at distant second
Source: IANS
19/09/2022 10:41:53 AM
Samsung will overcome slowing sales with lifestyle TVs: Top executive Samsung Electronics is trying to keep up the growth momentum of its TV business with its Lifestyle TVs, a senior executive has said, a lineup designed to transform traditional TV roles in line with rapidly changing lifestyle patterns. "The Lifestyle TVs form a new category that has received great reception from customers, with their sales doubling each year," said Chung Kang-il, who is in charge of the TV development team at Samsung. "Most of the sales come from overseas,...
Samsung will overcome slowing sales with lifestyle TVs: Top executive
Samsung will overcome slowing sales with lifestyle TVs: Top executive
Source: IANS
5/09/2022 10:58:18 AM
Samsung launches new foldable smartphones in 40 countries  Samsung Electronics launched its latest foldable smartphones in some 40 countries on Friday, hoping the new products could jump-start the lackluster global smartphone sales amid high inflation. The world's largest smartphone maker said the Galaxy Z Fold 4 and Flip 4, along with the Galaxy Watch 5 and the Galaxy Buds 2 Pro, are officially released in South Korea, the US and France, among others, and plans to expand the products' availability into around 130 countries by Septem...
Samsung launches new foldable smartphones in 40 countries
Samsung launches new foldable smartphones in 40 countries
Source: IANS
26/08/2022 4:29:27 PM
Samsung begins work on $15 bn next-gen chip R&D facility Samsung Electronics on Friday held a groundbreaking ceremony for its new semiconductor research and development (R&D) complex here, in a move to bolster its global leadership in cutting-edge chip technology. The South Korean tech giant plans to invest around $15.06 billion by 2028 for the 109,000-square-meter complex within its Giheung campus in Yongin, 50 kms south of Seoul. The envisioned facility is expected to help Samsung lead in areas of advanced research for memory and system...
Samsung begins work on $15 bn next-gen chip R&D facility
Samsung begins work on $15 bn next-gen chip R&D facility
Source: IANS
19/08/2022 4:06:20 PM
Samsung aims to boost foldables to half of total smartphone sales by 2025 Samsung Electronics aims to raise the ratio of foldable phones to half of its total smartphone sales by 2025, a top executive has said, after the tech giant unveiled its latest foldable smartphones in an online event. Samsung, the world's largest smartphone maker, will work to make its foldable smartphones another main column alongside the Galaxy S flagship series and a key category in the premium segment, Roh Tae-moon, president and head of Samsung's mobile experience (MX) divisio...
Samsung aims to boost foldables to half of total smartphone sales by 2025
Samsung aims to boost foldables to half of total smartphone sales by 2025
Source: IANS
11/08/2022 12:35:17 PM
Samsung logs record $8.5 bn profit on server chips, warns of market uncertainties Samsung Electronics on Thursday reported its second-quarter net profit of $8.5 billion, up 15.2 per cent from a year earlier, on the back of robust demand for server chips. Operating profit for the April-June period rose 12.2 per cent on-year to 14.09 trillion won, the company said in a regulatory filing. Revenue rose 21.3 percent to 77.2 trillion won, the second-highest quarterly revenue ever and a record for a second quarter. The operating profit was in line with the average estima...
Samsung logs record $8.5 bn profit on server chips, warns of market uncertainties
Samsung logs record $8.5 bn profit on server chips, warns of market uncertainties
Source: IANS
28/07/2022 12:57:48 PM
Samsung aims to build 11 more chip plants worth $200 bn in US Samsung Electronics floated an idea of investing nearly $200 billion to build 11 more chip plants in the US over the next two decades, documents filed with the state of Texas showed on Friday. The proposed investment is described in South Korean tech giant's applications filed with the Taylor and Manor school districts, seeking tax breaks for the potential construction of 11 new chip fabrication facilities in the state -- nine in Taylor and two in Austin in Texas. Samsung already ha...
Samsung aims to build 11 more chip plants worth $200 bn in US
Samsung aims to build 11 more chip plants worth $200 bn in US
Source: IANS
22/07/2022 11:18:36 AM
Samsung estimates $11 bn in Q2 profit riding on chip biz Samsung Electronics said on Thursday it is likely to report its best second-quarter earnings in four years on the back of solid chip demand. In its earnings guidance, the South Korean tech giant estimated its operating profit at 14 trillion won ($11 billion) for the April-June period, up 11.38 per cent from a year ago. Its Q2 operating income estimate is slightly lower than analysts' earnings expectations of 14.5 trillion won in the data compiled by Yonhap Infomax, the financial arm...
Samsung estimates $11 bn in Q2 profit riding on chip biz
Samsung estimates $11 bn in Q2 profit riding on chip biz
Source: IANS
7/07/2022 11:04:26 AM
Key Stock News - Bajaj Auto, Samsung Electronics, Apple, Britannia Industries, Insurtech SpiceJet, By ARETE Securities Key News Bajaj Auto looks to sell its e-scooter Chetak from 75 locations in FY23 Witnessing a robust demand for its electric scooter Chetak, Bajaj Auto plans to scale up the sales infrastructure for the model to 75 locations across the country in the current fiscal. The Pune-based firm had brought back its iconic Chetak scooter in electric avatar in October 2019.   Samsung likely to log $11 bn in profit on robust chip business in Q2 Samsung Electronics is expected to repor...
Key Stock News - Bajaj Auto, Samsung Electronics, Apple, Britannia Industries, Insurtech SpiceJet, By ARETE Securities
Key Stock News - Bajaj Auto, Samsung Electronics, Apple, Britannia Industries, Insurtech SpiceJet, By ARETE Securities
Source: ARETE Securities Ltd
6/07/2022 9:19:43 AM
Samsung likely to log $11 bn in profit on robust chip biz in Q2 Samsung Electronics is expected to report more than 15 percent rise in operating profit for the second quarter, helped by strong semiconductor business despite slowing demand for smartphones and home appliances, a report showed on Tuesday. The world's largest memory chip maker is forecast to log 14.5 trillion won ($11.1 billion) in operating profit in the April-June period, up 15.6 per cent from a year ago, according to the survey by Yonhap Infomax, the financial data firm of Yonhap Ne...
Samsung likely to log $11 bn in profit on robust chip biz in Q2
Samsung likely to log $11 bn in profit on robust chip biz in Q2
Source: IANS
5/07/2022 3:36:55 PM
Exclusive-India considers curbing fridge imports to boost local industry NEW DELHI - India is considering restricting imports of refrigerators to promote local manufacturing, two industry sources told Reuters on Thursday, potentially freezing out shipments from Samsung Electronics Co and LG Electronics Inc in the $5 billion market. The sources, who declined to be named as the talks were private, said the government was considering mandating that importers seek a licence from the authorities, replacing the existing free-import regime. That could be followed b...
Exclusive-India considers curbing fridge imports to boost local industry
Exclusive-India considers curbing fridge imports to boost local industry
Source: Reuters
9/06/2022 2:25:23 PM
Samsung, SK hynix dominate global NAND flash chip market in Q1 Samsung Electronics and SK hynix took up more than half of the global NAND flash memory chip market in the first quarter, a report showed on Thursday, up by more than 8 per cent from the previous quarter. Samsung, the world's largest memory chip maker, expanded its market share in the January-March period due largely to a fall in shipment by Japanese chipmaker Kioxia, following contamination incidents at its facilities, industry tracker TrendForce said. NAND flash is a type of non-v...
Samsung, SK hynix dominate global NAND flash chip market in Q1
Samsung, SK hynix dominate global NAND flash chip market in Q1
Source: IANS
27/05/2022 9:35:13 AM
Samsung to invest $355 bn in chip, bio industries for next 5 years Samsung Electronics said on Tuesday it will invest 450 trillion won ($355 billion) in semiconductor and biopharmaceuticals for the next five years, as South Korea's largest company seeks to further expand its business in future growth areas. The company said it will spend 360 trillion won, or 80 per cent of the investment, for research and development, and talent nurturing in South Korea, especially in advanced chipmaking. Samsung Electronics and Samsung Biologics will lead the inve...
Samsung to invest $355 bn in chip, bio industries for next 5 years
Samsung to invest $355 bn in chip, bio industries for next 5 years
Source: IANS
24/05/2022 3:30:53 PM
Samsung's profit jumps 50% over robust server chips, mobile sales Samsung Electronics on Thursday reported its best first-quarter earnings in four years on the back of solid chip and mobile demand. The world's largest memory chip and mobile phone maker said its operating profit rose more than 50 per cent to $11.1 billion (year-over-year) in a regulatory filing, reports Yonhap News Agency. Sales increased 18.9 per cent on-year to 77.7 trillion won in the first quarter, the all-time quarterly record and the third consecutive quarter that the tech gi...
Samsung's profit jumps 50% over robust server chips, mobile sales
Samsung's profit jumps 50% over robust server chips, mobile sales
Source: IANS
28/04/2022 11:28:55 AM
Geo-political conditions dim prospects for Samsung stock in near future Samsung Electronics' estimate-beating earnings seem not to be enough to calm investors who remain wary over headwinds from rising inflation, rate hikes and geopolitical risks, analysts said on Tuesday. Shares of Samsung, the world's largest memory chip and smartphone maker, have tanked this year, even though the tech giant is likely to report its best first-quarter earnings in four years later this month, on the back of solid chip and mobile demand. The South Korean tech giant e...
Geo-political conditions dim prospects for Samsung stock in near future
Geo-political conditions dim prospects for Samsung stock in near future
Source: IANS
19/04/2022 2:31:54 PM
Worldwide semiconductor revenue grew 26% in 2021: Report The worldwide semiconductor revenue totalled $595 billion in 2021, an increase of 26.3 per cent from 2020, a report said on Thursday. According to market research firm Gartner, Samsung Electronics regained the top spot from Intel for the first time since 2018, though by less than a percentage point, with revenue increasing 28 per cent in 2021. "The events behind the current chip shortage continue to impact original equipment manufacturers (OEMs) around the world, but the 5G smartph...
Worldwide semiconductor revenue grew 26% in 2021: Report
Worldwide semiconductor revenue grew 26% in 2021: Report
Source: IANS
14/04/2022 4:06:39 PM
Key News - Licious, Reliance Infratel, Samsung Electronics , By ARETE Securities Ratan Tata-backed BlueStone valuation tops $410 mn in latest round Ratan Tata-backed BlueStone, a leading omnichannel jewellery retailer, has raised over $30 million in funding at a valuation of $410 million. The funding round was led by Sunil Kant Munjal, Chairman, Hero Enterprise, who is an acknowledged go-to investor for many startups across stages. BlueStone is India’s largest omnichannel precious jewellery brand with a design-led approach and with fresh collections being updated...
Key News - Licious, Reliance Infratel, Samsung Electronics , By ARETE Securities
Key News - Licious, Reliance Infratel, Samsung Electronics , By ARETE Securities
Source: ARETE Securities Ltd
16/03/2022 10:03:20 AM