Saturday, 17 November, 2018

Samsung's next move: A $22 billion bet on new tech

Samsung will put more than $22 billion toward tech like AI and 5G.                  Jung Yeon-je  AFP  Getty Images Samsung will put more than $22 billion toward tech like AI and 5G. Jung Yeon-je AFP Getty Images
Emmett Howard | 10 August, 2018, 19:25

Total sales for April-June fell 4.1 per cent year-on-year to 58.48 trillion won, with revenues for the company's mobile division plunging 22 per cent in the same period.

That sum is 6% greater than the investment made by the South Korean conglomerate over the past three years, according to Reuters.

It said the group plans to significantly expand artificial intelligence (AI) research capability, increasing the number of advanced AI researchers to 1,000 across its global AI centres, and heavily invest in biopharmaceuticals.

"Samsung aims to become a leader in electronics components for future cars such as system-on-chips for autonomous driving, utilizing its leadership in semiconductors, telecommunications and display technologies", stated the Samsung investment announcement.

The €19.25 billion investment is part of a wider KRW180 trillion (€138.64 billion) spend to support capex and research and development.

'Crazy Rich Asians' Already Has 100 Percent Score On Rotten Tomatoes
The stars of Crazy Rich Asians are opening up about the importance of the film in society today. Kris Aquino walks at the red carpet for the premiere of " Crazy Rich Asians " in Hollywood.

Courtney Smith's lawyer: My client has never been contacted by Ohio State
According to a statement from Courtney Smith's attorney, Julia Leveridge, the school "never contacted Ms. Leverage also said that Courtney Smith did not get paid for interviews she granted to reporters. 'Ms.

NASCAR chairman France takes leave of absence
While France is a Long Island resident in the summer, he was not at the track in upstate NY prior to his arrest . France, 56, was reportedly pulled over after police observed him driving his 2017 Lexus erratically.

The new strategy will entail an overhaul of Samsung's internal venture incubation program, said the company. Samsung has been beefing up its contract drug making operations to help counter a potential decline in its mainstay electronics businesses. "But Samsung can be more active in M&As to do better at AI or 5G, when Lee is fully back to his business", Greg Roh, an analyst at Hyundai Motor Securities, said.

It is noted that these attachments are part of the three-year investment plan with a total volume of 180 trillion won, aimed at creating new jobs and providing new sources of growth.

Samsung's second quarter profit dipped slightly to 11.04 trillion won, down from 11.05 trillion won a year earlier.

The three-year investment plan, announced shortly after Samsung Electronics Co.

In order to beef up the competitiveness of local small and medium-sized firms, Samsung said it will assist local firms with adopting smart factory production solutions under cooperation with the Ministry of SMEs and Startups. This will lead to the creation of an additional 15,000 jobs, Samsung said.

Recommended

  • First 2 human cases of West Nile identified

    First 2 human cases of West Nile identified

    Cases generally tend to spike during the summer and fall months, between June and September, when activity is the most common. The first mosquitoes to test positive this year for West Nile were found in late May in Glenview and Morton Grove .
    Liverpool boss Klopp: Big spending always going to happen

    Liverpool boss Klopp: Big spending always going to happen

    Liverpool's England duo Jordan Henderson and Trent Alexander-Arnold only returned to training this week, alongside Lovren, but are pushing for a start.
    Researchers find flaw in WhatsApp

    Researchers find flaw in WhatsApp

    What's worse is that hackers can also take control of the accounts by posting fake messages on your behalf without your knowledge. The platform had come in for criticism, with incidents of lynchings rising owing to fake news and forwards.
  • 'Worst drought in living memory': Australia's big dry

    'Worst drought in living memory': Australia's big dry

    State and federal governments are providing financial help, but not enough for many farmers. In Australia , farmers were officially allowed to kill marsupials.
    Helicopters rescue campers in France amid flash floods

    Helicopters rescue campers in France amid flash floods

    Ten people were taken to hospital suffering from hypothermia and minor injuries, said regional police spokesman Jerome Tallaron. A total of 136 German children on a school trip were trapped in the campsite and had to be rescued.
    Facebook sorry that balloons appeared in Indonesia natural disaster  messages

    Facebook sorry that balloons appeared in Indonesia natural disaster messages

    That number is set to rise as more victims are found in the rubble and pulled from collapsed buildings. More than 1,000 schools have been damaged, the organization said.
  • Canada shooting: Four dead in Fredericton as gunman on the run

    Canada shooting: Four dead in Fredericton as gunman on the run

    Police in the eastern Canadian city of Fredericton , New Brunswick say at least four people have been killed after a shooting. The police asked people to lock their doors and avoid the area, confirming there had been 'multiple fatalities'.
    Premarket: Stocks dive, euro falls, as Turkey turmoil ripples out

    Premarket: Stocks dive, euro falls, as Turkey turmoil ripples out

    FILE PHOTO: A money changer counts Turkish lira banknotes at a currency exchange office in Istanbul, Turkey August 2, 2018. The pound was up 0.15 per cent against the euro but was down 0.5 per cent against the dollar, taking it to a 13-month low.
    Australia is younger and better off: RBA governor defends immigration rate

    Australia is younger and better off: RBA governor defends immigration rate

    The AUD/USD rate was quoted 0.14% lower at 0.7415 Wednesday and the Pound-to-Australian-Dollar rate was also down 0.15% at 1.7407. The RBA last cut the cash rate to its record low of 1.5 per cent in August 2016, after an earlier cut to 1.75 per cent in May.
  • China bans 'Winnie the Pooh' film over comparisons to Xi

    China bans 'Winnie the Pooh' film over comparisons to Xi

    The film, starring Ewan McGregor and a CGI Winnie the Pooh , aspires to tell the tale of recapturing childhood innocence. A 2014 picture of Xi and Japanese Prime Minister Shinzo Abe has also been compared to Pooh and Eeyore.
    Mourinho hopeful World Cup stars can face Leicester

    Mourinho hopeful World Cup stars can face Leicester

    Earlier this week, Sanchez had urged the Red Devils to make big signings if they wanted to compete with their rivals this season. Claude Puel's realistic aim will be to have Leicester finish in the top half of the Premier League this season.
    Dolphins receivers Stills, Wilson kneel during anthem

    Dolphins receivers Stills, Wilson kneel during anthem

    Kaepernick applauded the Dolphins players shortly after the display for their protest of "systemic oppression". Instead, the league opted to join with the NFL Players Association (NFLPA) to come up with a joint policy.

Samsung Galaxy Watch: Features of electronic giant’s first smartwatch revealed Samsung Galaxy Watch: Features of electronic giant’s first smartwatch revealed What makes the Note series and the Galaxy Note 9 so popular among Android fans is the plethora of features . Samsung launched the Note 9 at 11 a.m.in NY on Thursday, or Friday midnight in Seoul.

Firefighters battle a rare 'firenado' at plastics factory in the UK Firefighters battle a rare 'firenado' at plastics factory in the UK He said: 'We will be operational by the end of today though or as soon as the police and fire are finished. No one was injured in the blaze, and the cause of the fire has not yet been determined, Augusztinyi said.

US launches airstrikes as Taliban attack Afghan city US launches airstrikes as Taliban attack Afghan city The attack underlines the heavy losses still being suffered by security forces as they fight the Taliban insurgents. Thirty Taliban fighters and one Afghan security forces' member were killed, according to the provincial government.

Kurt Zouma Staying Put In London As Everton Look To Seal Loan Kurt Zouma Staying Put In London As Everton Look To Seal Loan However, he has less than 32 hours to make that happens as this summer transfer window shuts on Thursday, August 9, by 5pm. Manchester United need a defensive upgrade on the likes of Chris Smalling and Phil Jones and Zouma is certainly that.

Facebook now lets users play augmented reality games in Messenger video chats Facebook now lets users play augmented reality games in Messenger video chats Over 17 billion video chats occurred on the messaging app a year ago , more than twice the number recorded in 2016. Just two games are accessible today, yet they're exhibits for the innovation.

James Bond producer says 'it is time' for a black 007 James Bond producer says 'it is time' for a black 007 British actor Idris Elba is reportedly being eyed to take over as the new James Bond , once Daniel Craig retires from the role. Fuqua responded that the transition "will happen eventually", going on to suggest Elba as the frontrunner for the part.

Dutch Ryanair pilots plan Friday strike as carrier takes union to court Dutch Ryanair pilots plan Friday strike as carrier takes union to court A spokesman said that despite the walkouts, 85% of Ryanair's scheduled flights, more than 2,000, would operate as normal. As Ryanair had already informed passengers of the disruption there was "no one looking desperately for flights".

Jose Mourinho 'not confident' of deadline day signings Jose Mourinho 'not confident' of deadline day signings Liverpool have invested heavily over the summer as they look to pose a challenge to last season's runaway champions, Manchester City , but the same can't be said for United.

Teen Tsitsipas upsets Djokovic at Rogers Cup Teen Tsitsipas upsets Djokovic at Rogers Cup Tsitsipas set up match point with a scorching cross-court victor before completing the victory in 2 hours, 17 minutes. The aggressive play led to defensive shots from his opponent and Tsitsipas often converted when he had chance.

Busy Everton end transfer deadline day satisfied thanks to arrivals from Barcelona Barcelona can buy the centre-half back for around £30m if he does well at Goodison but, for now, he is an Everton player. I have spoken a lot to the coach and I know his passion for Everton and determination to be successful.

Nunes Explains Why Rosenstein Has Not Been Impeached In Leaked Audio Nunes Explains Why Rosenstein Has Not Been Impeached In Leaked Audio The Nunes-led House Intelligence Committee conducted a yearlong investigation of Russia's election interference. Ted Lieu tweeted "Under our Constitution, the duty of Congress is not to clear the President.

Russia Condemns New US Sanctions as ‘Unlawful’ Russia Condemns New US Sanctions as ‘Unlawful’ His administration has sanctioned a number of Russian officials and oligarchs for human rights abuses and election meddling. But U.S. officials had not yet confirmed the use of banned nerve agents in the attack.

Wake Forest University basketball coach charged in death of NYC tourist Wake Forest University basketball coach charged in death of NYC tourist Detectives are continuing their investigation and could upgrade the charges in part depending on what the medical examiner finds. According to CBS News New York , the blow was so hard, Szabo fell backwards and hit his head on the concrete.

EU may get tough on common mobile phone charger requirement EU may get tough on common mobile phone charger requirement The EU has proven that they are not shy to intervene on behalf of consumers, even against vast multi-national companies. This would mostly affect Apple , since that's the only major holdout still using a non-standard, proprietary port.

Jose Mourinho aims early dig at 'serial winners' Liverpool and Tottenham I was told that during pre-season it looked like I was saying something absolutely out of order, something insane . Manchester United will open the league campaign at home as they will host Leicester City .