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Samsung Electronics has appointed marketing veteran Lee Won-jin to lead its TV business in a rare midyear reshuffle, signaling a strategic pivot as the division faces slowing demand and intensifying competition from Chinese rivals. The company said Monday that Lee, currently head of global marketing for its device experience division, will take over as president and head of its visual display business. His predecessor, Yong Seok-woo, will move into an advisory role supporting the device experien
Samsung Electronics may face near-term pressure on earnings and its share price as labor tensions escalate, with a potential strike and large bonus provisions weighing on profitability, according to Citigroup. In a report released April 30, Citi analyst Peter Lee maintained a “buy” rating on the stock but lowered the target price by 6.3 percent to 300,000 won from 320,000 won. The revision reflects rising concerns that the company may need to set aside substantial provisions for performance-base
The owner family of Samsung Group has completed the payment of 12 trillion won ($8 billion) in inheritance taxes over five years, marking the largest such settlement in South Korea’s history while further tightening its control over the conglomerate. The family’s wealth has more than doubled amid an AI-driven semiconductor rally, allowing it to meet the tax burden without large-scale disposals of core holdings. The conglomerate confirmed the final payment Sunday, noting the sum is equivalent to
Samsung Electronics said Thursday it will focus on high-value memory products, including high-bandwidth memory and server chips, as supply shortages triggered by the artificial intelligence boom are expected to persist for some time. Kim Jae-june, executive vice president of the memory division, said during the tech giant’s first-quarter earnings conference call that AI-related demand would continue to drive growth in the memory market. “Demand for next year is already being placed in advance by
Samsung Electro-Mechanics on Thursday posted first-quarter operating profit of 280.6 billion won ($189 million), up 40 percent from a year earlier and well above the 271.5 billion won analysts had expected, as demand for the high-end semiconductor substrates used in AI accelerators drove the strongest growth in the components maker's portfolio. Revenue rose 17 percent to 3.21 trillion won, beating the consensus of 3.09 trillion won. The profit growth came despite a 71.4 billion won one-off retir
Samsung Electronics has begun restructuring parts of its consumer electronics business, including dishwashers and microwave ovens, as it pivots toward profitability amid weakening demand and rising costs, industry sources said Wednesday. The move comes despite record first-quarter earnings driven by a semiconductor boom, underscoring a widening gap between its chip business and consumer divisions. Samsung’s device appliances division, which oversees home appliances, recently outlined a restructu
Samsung Display is on track to be the exclusive OLED supplier for Apple's 20th-anniversary iPhone in 2027, according to fresh supply-chain leaks out of Greater China. The arrangement, if it holds, would echo the sole-vendor deal that handed Samsung the entire iPhone X panel order in 2017. Three separate leaks within the past week have pointed to the same panel: a custom screen with all four edges gently curved, built without the polarizing film that sits on top of conventional OLEDs. Greater Chi
Samsung SDI significantly reduced its operating loss in the first quarter this year, supported by surging demand for energy storage systems driven by the artificial intelligence data center boom. According to the company’s earnings call Tuesday, its operating loss narrowed 64.2 percent year-on-year to 155.6 billion won ($105.6 million), while revenue rose 12.6 percent to 3.58 trillion won. Battery sales revenue fell 7 percent from the previous quarter, but increased 13 percent on-year to 3.35 tr
A tightening memory chip supply is reshaping the global smartphone market, squeezing Chinese vendors while lifting shipments at Samsung Electronics and Apple. According to market tracker International Data Corp. on Tuesday, global smartphone shipments fell 4.1 percent on-year to 289.7 million units in the first quarter, marking the first decline for the January-March period since 2023. Samsung ranked first with shipments of 62.8 million smartphones and a 21.7 percent market share. Apple followed
Samsung Electronics is holding an equipment move-in ceremony at its Taylor, Texas, contract chip plant on Friday, formally installing the chipmaking machines that will begin producing silicon for Tesla and other customers later this year. The event closes a nearly two-year delay on the $37 billion facility Samsung broke ground on in late 2022, and it lands the same week Tesla CEO Elon Musk confirmed a third Samsung-built chip in the Korean foundry's Tesla pipeline. The Taylor plant is the physic
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