Samsung

    • Texas lures Samsung with huge tax relief over $17bn chip plant

      Texas lures Samsung with huge tax relief over $17bn chip plant

      US city of Taylor, Texas was placed in a short list of locations for the envisaged chip production plant of electronics conglomerate Samsung. The total amount of expected investments in the key semiconductor chip unit is valued at some 17 billion dollars, Reuters reported. Texas plans to offer extensive property tax breaks if it is chosen by the South Korean tech company.

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    • Google bets on Samsung 5G modem for US market

      Google bets on Samsung 5G modem for US market

      The technological conglomerate Google bets on Samsumg to bring up a 5G modem for its next flagship smartphone Pixel. This will be the first win for the Korean firm in a US market dominated by Qualcomm, Reuters reported. Earlier in August Google unveiled that it had designed its own processor chip to power its new Pixel 6 and Pixel 6 Pro high profile phones, ending its complete reliance on Qualcomm, which would keep supplying chips for the cheaper Pixel 5A.

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    • Samsung vows to invest $206bn by 2023

      Samsung vows to invest $206bn by 2023

      The technological conglomerate Samsung announced it would invest some 206 billion dollars by 2023 to boost the its post-pandemic recovery. The company confirmed it would expand its influence in areas like biopharmaceuticals, artificial intelligence, semiconductors and robotics, Reuters reported.

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    • Samsung Q2 profit spikes to $10bn

      Samsung Q2 profit spikes to $10bn

      The South Korean electronics conglomerate Samsung announced a 38% surge to $10 billion in operating profits as chips price rose and consumer and demand recovered from the Covid-19 economic downturn. The recovered investments in data centres also spurred the business activity of Samsung, Reuters reported.

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    • EU 5G rollout ups Samsung growth

      EU 5G rollout ups Samsung growth

      The South Korean giant Samsung eyes the EU drive for fast introduction of 5G networks as a major possibility to increase its output growth, Reuters reported. Samsung is aiming to capitalise of the robust network construction growth as its main rival Huawei vowed to focus on its domestic operations in China after the firm was badly hurt in US and some European countries as security issues weighed on Huawei's ongoing contracts.

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    • Samsung demonstrates dual-folding phone concept in new video

      Samsung demonstrates dual-folding phone concept in new video

      Samsung's already got a nice little ecosystem of foldable smartphones going, with the Galaxy Z Fold 2 and the original Fold positioned as flagships, and the vertically-folding Galaxy Z Flip being the more affordable option. But the company's plans for foldables don't stop there, as a new concept video proves. 

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    • Samsung vows $151bn investments in non-memory chip production

      Samsung vows $151bn investments in non-memory chip production

      The global shortage of semiconductor chips have spurred a rush for research and production among countries and tech firms. In its latest bid to boost output capacity the South Korean tech conglomerate Samsung announced plans for massive investments, Reuters reported. The company's statement is in line with Seoul's efforts to support local producers by increasing tax breaks and offering low interest long term loans.

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    • Samsung's Lee family to pay more than $10.8bn inheritance tax

      Samsung's Lee family to pay more than $10.8bn inheritance tax

      The family of late Samsung Electronics Co Ltd Chairman Lee Kun-hee announced they are obliged to pay over 12trn won ($10.8bn) in inheritance tax for his estate and donate his vast private art collection to state curators. As Reuters reminds, Lee, who is credited with transforming Samsung into the world's largest smartphone and memory chip maker, died on 25 October with an estate local media valued at around 26 trillion won.

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    • Samsung Q1 profit soars by 44% to $8.32bn

      Samsung Q1 profit soars by 44% to $8.32bn

      The South Korean giant Samsung earmarked that its profit for the first quarter of 2021 has risen by some 44 percent to 8.32 billion dollars due to increased demand for phones and smart devices in pandemic lockdowns, Reuters reported. Analysts said Samsung’s mobile division likely saw operating profit soar after its flagship Galaxy S21 smartphone series outsold the previous version by a two-to-one margin in the six weeks since its January launch, according to research provider Counterpoint.

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