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  • Samsung Electronics picks Taylor, Texas as new $17 billion US chip plant site Nov 24, 2021 07:33 AM IST

    Samsung Electronics picks Taylor, Texas as new $17 billion US chip plant site

    The world’s biggest memory chipmaker and second-largest contract chip manufacturer had also considered sites in Arizona and New York but said it chose Texas, where it has its only other U.S. chip plant, based on factors such as infrastructure stability, local government support, and proximity to its existing plant.

  • Samsung Electronics close to finalising $17 billion Texas chip plant Sep 29, 2021 10:05 AM IST

    Samsung Electronics close to finalising $17 billion Texas chip plant

    Samsung told Reuters that it is continuing due diligence in multiple locations, and that it has yet to make a decision.

  • Samsung announces $205 billion investment plan, to create 40,000 jobs Aug 26, 2021 09:58 PM IST

    Samsung announces $205 billion investment plan, to create 40,000 jobs

    The conglomerate said it would build two new manufacturing plants on top of three currently in operation with a view to tapping into the manufacturing of vaccines.

  • Samsung Electronics Vice Chairman Lee Jae-yong jailed for 2.5 years over corruption scandal Jan 18, 2021 11:54 AM IST

    Samsung Electronics Vice Chairman Lee Jae-yong jailed for 2.5 years over corruption scandal

    Lee Jae-yong, vice-chairman of Samsung Electronics, the world's biggest smartphone and memory chip maker, was found guilty of bribery and embezzlement in connection with the scandal that brought down president Park Geun-hye.

  • Samsung Electronics flags near 60% operating profit jump after Huawei boost Oct 08, 2020 02:13 PM IST

    Samsung Electronics flags near 60% operating profit jump after Huawei boost

    The South Korean tech giant said in an earnings estimate that it expected operating profit to reach 12.3 trillion won ($10.6 billion) for July to September, up from 7.8 trillion won in the same period last year.

  • Samsung Electronics to shut down sole China TV factory by November Sep 07, 2020 01:53 PM IST

    Samsung Electronics to shut down sole China TV factory by November

    The TV factory in Tianjin is the only Samsung Electronics TV production base in China, the spokesman said. The decision is part of "ongoing efforts to enhance efficiency" in its production facilities, Samsung said in a statement earlier.

  • Samsung Electronics to halt production at its last computer factory in China Aug 03, 2020 04:20 PM IST

    Samsung Electronics to halt production at its last computer factory in China

    Around half the 1,700 employees on contract at Samsung Electronics Suzhou Computer will be affected, excluding those involved in research and development, the South China Morning Post reported on Friday, citing a notice to Samsung staff.

  • India investment body backs incentives for $706 million Samsung display plant: Letter Jun 16, 2020 08:25 PM IST

    India investment body backs incentives for $706 million Samsung display plant: Letter

    Samsung, one of the top smartphone sellers in India, signed a memorandum of understanding with Uttar Pradesh in 2019 on the project. A source familiar with the matter said this would relocate manufacturing previously done in China.

  • Samsung Electronics sees Q2 profit fall as virus hits sales of smartphones, TVs Apr 29, 2020 07:20 AM IST

    Samsung Electronics sees Q2 profit fall as virus hits sales of smartphones, TVs

    Samsung said its first-quarter operating profit rose 3% in the January-March period, in line with an earlier estimate, as the stay-at-home trend due to the COVID-19 pandemic cushioned the virus blow.

  • China allows Samsung Electronic staff to enter country for chip factory expansion Apr 22, 2020 04:00 PM IST

    China allows Samsung Electronic staff to enter country for chip factory expansion

    The move came after China said on Tuesday that it was in talks with some countries to establish fast-track procedures to allow travel by business and technical personnel to ensure the smooth operation of global supply chains.

  • Early Asia tech results signal slow recovery after coronavirus battering Apr 07, 2020 04:20 PM IST

    Early Asia tech results signal slow recovery after coronavirus battering

    Foxconn, which said last month it expected to resume normal production in China by the end of March, warned it does not expect to see any revenue growth in the first half of this year.

  • Coronavirus pandemic | Samsung Electronics shuts US factory after 2 workers test positive of COVID-19 Apr 03, 2020 08:00 AM IST

    Coronavirus pandemic | Samsung Electronics shuts US factory after 2 workers test positive of COVID-19

    The South Korean tech giant said its facility, located in Newberry County, South Carolina, is being "thoroughly cleaned and sanitized," and will resume operation on April 5.

  • Coronavirus pandemic: Samsung says chip factory worker tests positive for COVID-19, output not affected Mar 31, 2020 07:25 AM IST

    Coronavirus pandemic: Samsung says chip factory worker tests positive for COVID-19, output not affected

    This is the first time a Samsung chip factory employee has tested positive for the virus, although several confirmed cases at the tech giant's smartphone factory in South Korea's southeastern city of Gumi resulted in a temporary suspension.

  • Home work triggers demand jump for chips, laptops and network goods Mar 23, 2020 03:35 PM IST

    Home work triggers demand jump for chips, laptops and network goods

    Many firms have withdrawn earnings forecasts, anticipating a drop in consumer demand and economic slump, but performance at electronics retailers and chipmakers is hinting at benefits from the shift in work culture.

  • Samsung offers phone delivery service for test use to ride out coronavirus impact Feb 18, 2020 07:55 PM IST

    Samsung offers phone delivery service for test use to ride out coronavirus impact

    The move highlights efforts made by the global smartphone industry, one of the tech sectors most hurt by the virus outbreak in China, to minimise the impact on business.

  • Samsung Electronics's jailed board chairman quits Feb 14, 2020 03:10 PM IST

    Samsung Electronics's jailed board chairman quits

    The resignation comes less than two years after Lee's appointment split the chairman and chief executive roles for the first time in an effort to enhance transparency and independence of the world's top memory chip manufacturer in the wake of a corruption scandal involving group heir Jay Y. Lee.

  • Samsung Electronics appoints Roh Tae-moon as new mobile chief Jan 20, 2020 08:11 AM IST

    Samsung Electronics appoints Roh Tae-moon as new mobile chief

    Roh, at 51, is the youngest president at Samsung, championed Samsung's strategic shift to outsource more phones to Chinese and other companies, to cut costs and to better compete with cheaper Chinese rivals like Huawei, people familiar with the matter previously told Reuters.

  • Samsung Electronics estimates Q4 operating profit down more than a third Jan 08, 2020 08:42 AM IST

    Samsung Electronics estimates Q4 operating profit down more than a third

    In an earnings guidance statement, it projected operating profits in the October to December period at 7.1 trillion won, down 34.2 percent year-on-year.

  • Samsung Electronics chip output at South Korea plant partly halted due to short blackout Jan 01, 2020 11:22 AM IST

    Samsung Electronics chip output at South Korea plant partly halted due to short blackout

    Some DRAM and NAND flash chip production lines were stopped after electricity was cut due to a problem with a regional power transmission cable, and a full recovery is expected in about two to three days, Yonhap reported earlier on Tuesday, citing industry sources.

  • Samsung chairman Lee Sang-hoon jailed for union sabotage Dec 18, 2019 03:59 PM IST

    Samsung chairman Lee Sang-hoon jailed for union sabotage

    Chairman Lee Sang-hoon and executive vice president Kang Kyung-hoon were both sentenced to 18 months for leading a wide-ranging operation to deter staff at Samsung's customer service unit from operating a union.

  • Samsung Electronics board chairman jailed on union-busting charge Dec 17, 2019 02:00 PM IST

    Samsung Electronics board chairman jailed on union-busting charge

    Lee and about 25 other defendants were charged with sabotaging union activities by subcontracted workers at Samsung Electronics' repair unit, Samsung Electronics Service Co Ltd.

  • Samsung Electronics says Q3 net profit slumps 52% Oct 31, 2019 09:03 AM IST

    Samsung Electronics says Q3 net profit slumps 52%

    "Earnings from the Memory Business slumped significantly year-on-year as memory chip prices continued its downward trend," it said in a statement.

  • Samsung Electronics' second-quarter profit likely halved as Huawei woes worsen chip glut Jul 03, 2019 11:40 AM IST

    Samsung Electronics' second-quarter profit likely halved as Huawei woes worsen chip glut

    The quarterly result would be the South Korean firm's lowest in nearly three years, with the prospect of an earnings recovery still some quarters away as a period of oversupply continues unabated amid a broader slowdown in tech markets.

  • Samsung Electronics delays Galaxy Fold media events in China Apr 22, 2019 09:36 AM IST

    Samsung Electronics delays Galaxy Fold media events in China

    Instead of plaudits ahead of the phone's launch on April 26 in the United States, the South Korean conglomerate has been blighted by technology journalists reporting breaks, bulges and blinking screens after using their samples for as little as a day.

  • Samsung Electronics could become one of Orange's providers for French 5G licence Apr 18, 2019 03:59 PM IST

    Samsung Electronics could become one of Orange's providers for French 5G licence

    France's 5G telecoms frequencies auction should start later this year.

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