Latest Business news

South Koreans spend most on phones, which is good news for Samsung

Last year was terrible for smartphone brands, as sales declined year-over-year. However, not everything was bad. People have actually started spending more on smartphones, and a new report reveals how much people spend on average. Consumers in Samsung's home country spent the most on average on smartphones, bringing a good outlook for Galaxy S and […]

By Asif Iqbal Shaik
5 days ago

Samsung grew its smartphone market share in India, ranked first again

Despite challenging market conditions globally, Samsung has been quite resilient in India over the past year. While Apple stole Samsung's crown in 2023 worldwide, it isn't even close in the Indian market. In Q1 2024, Samsung was India's biggest smartphone manufacturer, and it achieved growth compared to Q1 2023. Samsung performed well in the Indian […]

By Abid Iqbal Shaik
6 days ago

Samsung boss Lee Jae-yong becomes South Korea’s richest person

Samsung Electronics chairman Lee Jae-yong has topped Forbes' list of South Korea's wealthiest people for the first time in his life. Lee's net worth is KRW 15.81 trillion ($11.5 billion), which has recently risen by $3.5 billion. Lee Jae-yong becomes South Korea's richest person for the first time The increase in Lee Jae-yong's net worth […]

By Asif Iqbal Shaik
7 days ago

China wants its cars to rule the world, Samsung sees an opportunity

If you've been hearing about China's exports of cars a bit more than usual recently, that's because China is absolutely crushing it in the market right now. Its car companies have become a real threat for legacy car manufacturers, and the Chinese show no signs of stopping. Modern cars, particularly electric cars, require a lot […]

By Danny Dorresteijn
1 week ago

Samsung is under emergency mode, switches to six-day workweek

Last year was bad for Samsung. Its revenue and profit took extreme hits, and the company has been under pressure from competition and the global economic downturn. While its profit increased in the first quarter of this year, Samsung has reportedly switched to a six-day workweek to inject a sense of crisis in its employees. […]

By Asif Iqbal Shaik
1 week ago

Samsung goes into emergency mode with 6-day work week

The Samsung Group wants to instill a sense of urgency in its business units as headwinds continue to hamper progress. To that end, it's introducing a 6-day work week for executives at Samsung Electronics. All executives, including those at manufacturing and sales divisions, will now work either on Saturday or Sunday as well after the […]

By Daniel van Dorp
1 week ago

Samsung becomes No. 1 digital signage manufacturer for 15th consecutive year

Samsung has announced that according to a new market analysis by Omdia, the South Korean tech giant was the number one brand for digital signage in the world in 2023, making it the fifteenth consecutive year the company is leading in this space. According to the research firm, Samsung had a market share of 33% […]

By Abid Iqbal Shaik
1 week ago

Samsung aims to ship over 50 million high-end Galaxy phones this year

Samsung has had excellent business in the first quarter of this year. The company's Galaxy S24 series, launched in January, has been very successful. The new smartphone lineup broke several pre-order records in multiple countries. As a result, Samsung has smashed its internal target for manufacturing phones and tablets. Samsung aims to ship 253 million […]

By Asif Iqbal Shaik
1 week ago

Samsung gets $6.4 billion in incentives for its semiconductor chip plant in US

Last month, it was reported that Samsung could get a $6 billion grant from the US government to build advanced chip factories in the US. The US government has now officially announced that it is offering $6.4 billion in grants to Samsung Electronics for its chipmaking investments in Texas. Samsung will invest $44 billion to […]

By Asif Iqbal Shaik
2 weeks ago

Samsung regains its number one position from Apple in global smartphone sales

Samsung regained its number-one position in the global smartphone market in Q1 2024. The South Korean firm defeated Apple just one quarter after it was pushed down to second, thanks to impressive sales of the Galaxy S24 series, which was launched in January earlier this year. Samsung sold over 60 million smartphones in Q1 2024 […]

By Asif Iqbal Shaik
2 weeks ago

Samsung leaders avoid risk even as company falls behind its rivals

Decisive leadership is what enabled Samsung to establish its dominance in lucrative industries such as memory chips, displays, and mobile devices. However, it appears that top leaders at the company now prefer to avoid risk, even as mounting business challenges make it fall behind rivals. Samsung faces a challenging business environment in all of its […]

By Adnan Farooqui
2 weeks ago

Samsung may reveal its $44 billion US chip investment next week

Samsung has invested a lot of money in its US chipmaking facilities. In addition to its existing facility, the company announced a $17 billion project in 2021 for a semiconductor plant in Taylor, Texas that's likely to begin mass production of chips later this year. The US government is focused on pumping up the local […]

By Adnan Farooqui
2 weeks ago

Samsung’s top acquisitions man returns as big deals expected

Samsung has not participated in the mergers and acquisitions market for more than 7 years, despite having more than $60 billion in cash that it could use to buy new companies. Its absence from this space was also partly due to the legal troubles of heir Lee Jae-yong, who only recently returned to the top […]

By Adnan Farooqui
2 weeks ago

US trade commission orders Samsung to stop unfair business practices with retailers

The US FTC (Fair Trade Commission) has ordered Samsung to stop unfair business practices in the country. The antitrust regulator said that Samsung can't demand retailers to offer it retail prices for their products. The company reportedly did so for six years before it faced a probe from the agency. It was reported that Samsung […]

By Asif Iqbal Shaik
2 weeks ago

Samsung’s stock expected to soar this year as memory chips recover

The supply glut in the memory chip market has severely impacted Samsung's profitability for the past couple of years, however, it appears that things might finally be turning around for the company. The earnings guidance that Samsung released last week seems to suggest so. No surprise, then, that market analysts are now expecting Samsung's stock […]

By Adnan Farooqui
2 weeks ago

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