[THE INVESTOR] Samsung Electronics said on July 15 that it will launch the Galaxy S7 Edge Olympic Games Edition in South Korea on July 18 in celebration of the Rio Olympic Games. The company has set the price at 1,067,000 won (US$ 943). The sales will begin at 10 a.m. exclusively on its online store, the company said. The phone features Olympic Games design with the five official colors of the Olympic Rings, around the phone and on the key apps. “We produced the limited edition version with full

July 15, 2016

[THE INVESTOR] Samsung Electronics is renewing its automotive push with its latest decision to acquire sizeable shares in China’s largest electric vehicle manufacturer BYD. The company confirmed the deal on July 15 but declined to reveal the specific size of the investment. Earlier in the day, a local newspaper reported that Samsung will invest 3 billion yuan (US$448 million), about 2 percent stake in the Chinese company. BYD is the world’s largest electric bus maker“The latest investment aims t

July 15, 2016

[THE INVESTOR] Samsung Electronics said on July 15 that it will launch its mobile payments service, Samsung Pay, in Brazil next week. Making inroads into South America for the first time, the company chose to launch in Brazil as the first Latin destination considering the nation’s soaring mobile banking users. “We are excited that Samsung Pay will be available in Brazil from July 19,” said André Varga, product director of Samsung’s mobile business division in Brazil. “Brazil will pave the way fo

July 15, 2016

[THE INVESTOR] Xiaomi founder and chief executive Lei June on July 14 held a meeting with Samsung Electronics executives, including Jeon Young-hyun, the company’s memory chip division chief, at the headquarters in Suwon, Gyeonggi Province. According to industry sources, the CEO discussed ways to use Samsung’s high-density memory chips for its premium smartphones, including the upcoming Mi Note 2 phablet. Xiaomi founder and chief executive Lei JuneXiaomi, dubbed as “China’s Apple,” topped the Chi

July 14, 2016

[THE INVESTOR] Tech giants Samsung Electronics and LG Electronics are expected to benefit from an increasing demand for high-end TV products, including ultra-high definition TVs, at home and abroad, according to a report July 14.The report by the Science Ministry and Electronics and Telecommunications Research Institute cites the planned commercialization of UHD broadcasting services in Korea in February 2017 as the main reason behind the sales increase in the coming years.UHD TVs valued at 1.2

July 14, 2016

[THE INVESTOR] Mark Hurd, the co-chief executive of California-based Oracle, may be close to striking software deals with local conglomerates that could include Samsung and POSCO, according to those close to the matter.The co-CEO of the San Francisco-based company arrived in Seoul on July 14 to meet with executives from these partner firms. “There may be several big deals being negotiated behind the scenes,” said one industry watcher, declining to be identified.Mark Hurd, co-CEO of US software g

July 14, 2016

[THE INVESTOR] Samsung Electronics’ flagship smartphone Galaxy S7 has managed to outsell Apple’s iPhone 6S in the US for the first time. According to market research firm Kantar Worldpanel, 16 percent of American consumers purchased Galaxy S7 or S7 Edge for the three-month period ending in May, while 14.6 percent chose an iPhone 6S or 6S Plus during the same period. Samsung Galaxy S7 (left) and Apple's iPhone 6SEven though the Samsung phones are newer handsets by half a year, Apple’s iPhones hav

July 14, 2016

[THE INVESTOR] Samsung Electronics officially introduced its Serif TV models in the US market on July 13, in collaboration with New York City’s landmark gallery Museum of Modern Arts. Designed by France’s Ronan and Erwan Bouroullec, the model takes its design and name after the shape of the alphabet “I” in the “Serif” font. Due to its stylish qualities, MoMA has uncharacteristically lent its venues for the launch event and will continue to offer support by displaying it in its stores.Samsung Ser

July 14, 2016

[THE INVESTOR] Samsung SDS, the IT solutions unit of Samsung Group, said on July 14 it has recently decided to invest into UK-based security solutions developer Darktrace and Korean blockchain venture Blocko. “With the latest investments, we aim to carry out diverse ICT projects,” the company said in a statement. “We will strengthen our security solutions and services through Darktrace’s next-generation security solutions, while with Blocko we will apply blockchain technology to diverse areas su

July 14, 2016

[THE INVESTOR] Samsung Electronics outran other global integrated device manufacturers in the semiconductor foundry sector in the Jan.-March period in terms of sales, according to market research firm IHS on July 13.The Korean chip company’s foundry business is forecast to have earned $613 million in sales in the first quarter, the largest among the global device manufacturers. The figure is three times more than that of runner-up Micron, which made $198 million.Samsung Electronics’ mobile appli

July 14, 2016

[THE INVESTOR] The Korean government is renewing its commitment to the display and semiconductor sectors where Chinese players are fast catching up with their Korean rivals.Korea has reduced related government budgets as Korean companies such as Samsung Electronics, SK hynix and LG Display became top players in the fields. Samsung Electronics’ semiconductor plant in Xian, ChinaDuring the years, Chinese companies have grown rapidly largely boosted by their government’s full support. The governmen

July 13, 2016

[THE INVESTOR] Samsung Electronics president and mobile chief Koh Dong-jin on July 13 showed confidence about the company’s upcoming launch of the Galaxy Note 7 on Aug. 2.“We have improved ‘note’ functions this time, upgrading software for user convenience,” Koh told reporters in Seoul. Samsung Electronics mobile chief Koh Dong-jin speaks at the Galaxy S7 unpack event held in Barcelona in February.He is scheduled to take the stage to unveil the new Note phablet at an unpack event in New York. Si

July 13, 2016

[THE INVESTOR] Samsung Group is expected to announce the official withdrawal of its 7.6 trillion won (US$6.60 million) investment proposal in the Saemangeum development project this month, the Seoul Shinmun reported on July 13. Saemangeum is an area comprising reclaimed tidal land situated on the southwest coast of Korea. Currently, it is being developed as a free trade and economic zone. A rendering of the Saemangeum free trade zoneThe news daily said Samsung’s withdrawal could deal a huge blow

July 13, 2016

[THE INVESTOR] Xiaomi founder and chief executive Lei Jun is expected to visit Seoul this week to have a meeting with Samsung Electronics executives possibly on components partnership, industry sources said on July 13. This is the first time that the chief of the hot-selling Chinese smartphone-maker is visiting Korea, home turf of its archrival Samsung.Xiaomi founder and CEO Lei JunAccording to sources, the CEO will meet Jeon Young-hyun, president of Samsung’s memory chip business division who o

July 13, 2016

[THE INVESTOR] South Korean tech giant Samsung Electronics has sent out an invitation to the global news media for its upcoming Galaxy Note 7 launch event in New York City on Aug. 2.Launch events for the new smartphone will also take place simultaneously in Rio de Janeiro and London, according to the company. Samsung will also live stream the events on its websit (www.samsung.com).As widely rumored, the new smartphone, the sixth of the Note lineup, will be named the Galaxy Note 7 to align its nu

July 13, 2016

[THE INVESTOR] Concerns are growing over brain drain within technology-intensive industries such as display and semiconductor as talented workers are leaving the country for new opportunities, mostly for China. A significant portion of highly trained tech talents are finding jobs at Chinese runner-ups that are willing to spend big to attract them. According to industry sources, Chines chipmakers are offering almost tenfold increase in current salary. One of the most high-profile moves is Kim Woo

July 12, 2016