005930.KS - Samsung Electronics Co., Ltd.

KSE - KSE Delayed Price. Currency in KRW
57,900.00
+1,100.00 (+1.94%)
At close: 3:30PM KST
Stock chart is not supported by your current browser
Previous Close56,800.00
Open56,200.00
Bid57,800.00 x 0
Ask57,900.00 x 0
Day's Range56,200.00 - 58,000.00
52 Week Range40,850.00 - 62,800.00
Volume23,029,490
Avg. Volume13,501,740
Market Cap386.501T
Beta (5Y Monthly)0.94
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateApr 28, 2020 - May 05, 2020
Forward Dividend & Yield1,416.00 (2.49%)
Ex-Dividend DateDec 27, 2019
1y Target Est54,903.00
  • Bloomberg

    British Startup Graphcore Hits $2 Billion Valuation

    (Bloomberg) -- Graphcore Ltd., the British semiconductor firm whose chips are used to run artificial intelligence programs, has raised $150 million, bringing its valuation to $1.95 billion.The company now has $300 million in cash, which it will use to invest in research and development and global expansion, Bristol, England-based Graphcore said in a statement on Tuesday.After it raised $200 million in 2018, Graphcore was approached by additional investors who wanted to put money into the company, Chief Executive Officer Nigel Toon said in an interview.While the company has no immediate plans for an initial public offering, several of its investors, such as Baillie Gifford, have experience investing in publicly traded technology companies and are the types of shareholders the company would try to target if it were to go public at some point in the future, Toon said.“Having this additional capital on hand allows us to accelerate our investment and allows us to be in a position to support the really large customers who we’re building business with,” Toon said.Read Businessweek’s profile of Graphcore here.Programs running artificial intelligence have different requirements from traditional software. Instead of telling machines what to do step-by-step, AI learns from pools of data, making greater demands on a computer’s memory and a processor’s energy use. Chips built to run artificial intelligence programs, therefore, have to prioritize efficiency.Graphcore’s chips are designed for “less precise” computing, mimicking the way human brains work, and helping artificially intelligent machines draw conclusions more like we do. They also need more processing power.Late last year, Graphcore announced a deal with Microsoft Corp. to offer its processing units on the U.S. company’s Azure cloud platform, with financial services giant Citadel an early customer.Graphcore has been adding engineers, expanding its operations in Asia and the U.S., and ramping up its customer service force and software development arm. The firm is also building out a team in Oslo that’s creating large-scale systems connecting thousands of its processors that can take on increasingly complex problems, like those raised by natural-language processing, which is important for the digital assistants proliferating on home speakers and smartphones, and self-driving cars.The current round includes Baillie Gifford, Mayfair Equity Partners, and M&G Investments. The firm, founded in 2016, has also previously gotten investment from Microsoft, BMW and Samsung Electronics Co.To contact the reporter on this story: Amy Thomson in London at athomson6@bloomberg.netTo contact the editors responsible for this story: Giles Turner at gturner35@bloomberg.net, Molly SchuetzFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Huawei’s New MatePad Looks a Lot Like Apple’s iPad Pro
    Bloomberg

    Huawei’s New MatePad Looks a Lot Like Apple’s iPad Pro

    (Bloomberg) -- Huawei Technologies Co. reaffirmed its bet that expensive folding smartphones will excite consumers into upgrades, and that Apple Inc.’s iPad Pro is a design worth imitating for a new line of tablet computers. The Chinese company on Monday announced a second-generation version of its Mate X folding phone, which up to now has been sold mostly in its home country. This time Huawei’s bringing it to Europe, and said the product’s more durable than the first version and has a faster processor and 3D graphics.When folded, the Mate Xs has a 6.6-inch display, which is just slightly larger than Apple Inc.’s iPhone 11 Pro Max. But when opened out, Huawei’s device becomes an 8-inch tablet computer. It has three rear-facing Leica Camera AG-branded lenses, which double as selfie cameras when flipping the phone around in its folded form.It’ll cost 2,499 euros ($2,704) when it goes on sale worldwide in March.The market for smartphones is slowing, and manufacturers are trying to find new ways to convince consumers they should upgrade their devices. Bendable products are an increasingly popular strategy being tried out by some of the world’s biggest device makers.Samsung has been selling a foldable smartphone for as many months as Huawei, and at the Consumer Electronics Show in Las Vegas in January, Lenovo Group Ltd. showed off an updated prototype of a folding ThinkPad computer. The Motorola Razr brand is also due to make a comeback later this year, and it too will bend.Huawei also showed off a new line of tablet computers for Europe -- the MatePad Pro 5G -- aimed at the same buyers of products like Apple’s iPad Pro. It’s not without its physical similarities, either.The MatePad Pro has a 10.8-inch display compared to the iPad’s 11 inches; it includes a stylus that, like the Apple Pencil, connects magnetically to the outer edge of the tablet for recharging, and is dubbed the Huawei M-Pencil. The bezel around the screen is slimmer than that of Apple’s, but uses the same rounded screen corners that differentiate the iPad Pro from its cheaper brethren. At a briefing with reporters ahead of the launch on Monday, Huawei championed the MatePad Pro’s use of split-screen multitasking to run apps side-by-side and its optional magnetic keyboard case.It does have innovations of its own, however. The tablet can mirror the display of certain Huawei smartphones if they’re nearby, letting you control the phone virtually -- a bit like using a remote desktop app to use a PC from another computer. The tablet also has fifth-generation 5G wireless -- something no iPhone or iPad offers yet -- and it can be used to wirelessly charge other products, such as phones, headphones or computer mice.Prices will start at 549 euros for a Wi-Fi-only version from April.However, due to the U.S. government blacklisting Huawei -- which it accuses of aiding Beijing in espionage -- last year, the company’s new Mate Xs and MatePad run on versions of Android that’s free and open-source, meaning they don’t have apps such as Google Maps, YouTube or the Google Play Store. Samsung’s Android-powered tablets do not suffer such restrictions.Huawei’s been battling global scrutiny over its telecom equipment, but often overlooked is the company’s rapid growth as a smartphone manufacturer. In 2018, it surpassed Apple to become the world’s second-largest maker of smartphones, according to data from market research firm IDC. (Updates with MatePad Pro pricing)To contact the author of this story: Nate Lanxon in London at nlanxon@bloomberg.netTo contact the editor responsible for this story: Giles Turner at gturner35@bloomberg.netFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Some Samsung, Hyundai workers self-quarantine as Korea Inc braces for virus impact
    Reuters

    Some Samsung, Hyundai workers self-quarantine as Korea Inc braces for virus impact

    Some South Korean workers at Samsung Electronics and Hyundai Motor are staying home as a precautionary measure as corporate Korea scrambles to prevent the coronavirus outbreak from causing widespread disruption in its home market. About 1,500 workers of Samsung Electronics' phone complex in the southeastern city of Gumi have self-quarantined after one of its workers was infected with the disease, a person familiar with the matter said. The southeastern city of Daegu - the epicenter of the virus outbreak in South Korea- and nearby cities are an industrial hub in South Korea, Asia's fourth-biggest economy, and home to factories of Samsung Electronics, Hyundai Motor and a number of others.

  • South Korea Firms Prepare for Worst After Samsung Virus Case
    Bloomberg

    South Korea Firms Prepare for Worst After Samsung Virus Case

    (Bloomberg) -- Samsung Electronics Co., LG Electronics Inc. and other companies in South Korea are taking precautions against the coronavirus after a rising number of cases in the country, including the infection of a Samsung employee at a local production facility.The country’s largest technology company shut down operations at a plant in Gumi City over the weekend after the employee tested positive for the virus, but resumed operations around 1:00 p.m. local time Monday. Samsung Electronics shares slid as much as 3.7% in Seoul.While the novel coronavirus originated in China, it is now spreading to other countries, including Korea with more than 750 confirmed cases. Companies from Japan to Singapore are taking steps to limit the spread among employees and within their facilities.South Korea warned its fragile economic recovery is under threat from the coronavirus that has spread dramatically across the country over the past week, and pledged action to minimize the fallout. The won dropped to a six-month low and stocks plunged after South Korea raised its infectious-disease alert to the highest level as the outbreak worsened.The nation’s Centers for Disease Control said Monday there are 161 more virus cases, bringing the total to 763. The death toll rose by 2 to 7 people. The city of Daegu has seen a spike in cases in recent days.Read more: South Korea Braces for Economic Pain as Virus Cases SoarThe Samsung case is troubling because Gumi has a collection of facilities operated by Samsung, LG Electronics, LG Display, Toray Group and other companies. Samsung has two production lines in Gumi, about 200 kilometers (124 miles) southeast of Seoul, for some of its smartphones.“We’ve been worried about disruptions in the tech supply chain that are causing delays in importing parts from China,” said Lee Hang-koo, a researcher at the Korea Institute for Industrial Economics & Trade. “But the problem is getting serious as infections are soaring near the Gumi Industrial Park, a home-ground of plants producing core parts of electronics devices.”“Companies have shifted most of their production to China and Vietnam for cost cutting but still high-tech electronic parts are produced at home because of concerns about leaks in core technology,” Lee added.LG Electronics, which has TV plants in the Gumi industrial complex, told workers who commute from Daegu to work from home. LG Display has instructed workers who have visited the Daegu area to not come into the office for two weeks, while headquarters staff are restricted from visiting the region without approval from management. An LG Electronics spokesperson said its research center in Incheon was shut after the company found out an employee’s family member was infected.Samsung has shifted more than half of its smartphone production to Vietnam but still produces some of its premium models at the Gumi complex. The stoppage at the plant may affect production of Samsung’s high-end models including the foldable Galaxy Z Flip and the Galaxy Fold.Read more: In South Korea, Opaque Sect Draws Scrutiny With Virus Spike(Updates with share action and plant resumption from the second paragraph)To contact the reporters on this story: Sohee Kim in Seoul at skim847@bloomberg.net;Kanga Kong in Seoul at kkong50@bloomberg.netTo contact the editors responsible for this story: Peter Elstrom at pelstrom@bloomberg.net, Edwin ChanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Will the shows go on? Coronavirus, MWC cancellation hang over tech conferences
    MarketWatch

    Will the shows go on? Coronavirus, MWC cancellation hang over tech conferences

    The abandonment of a show as big as Mobile World Congress stings economically for the host city, mobile industry and entrepreneurs from across the globe who attend in hopes of doing deals. And it could just be the beginning.

  • The 5G rollout is already behind, and coronavirus could slow it even more
    MarketWatch

    The 5G rollout is already behind, and coronavirus could slow it even more

    Two seemingly different issues — the ongoing 5G network rollout and the coronavirus — are causing confusion and disappointment for many tech investors this earnings season so far and they are now becoming intertwined.

  • Samsung Electronics confirms coronavirus case at phone factory complex in South Korea
    Reuters

    Samsung Electronics confirms coronavirus case at phone factory complex in South Korea

    Samsung Electronics said on Saturday that one coronavirus case had been confirmed at its mobile device factory complex in the southeastern city of Gumi, causing a shutdown of its entire facility there until Monday morning. Samsung Electronics, the world's top smartphone maker, said the floor where the infected employee worked would be shut down until the morning of Feb. 25. "The company has placed colleagues who came in contact with the infected employee in self-quarantine and taken steps to have them tested for possible infection," Samsung said in a news release.

  • Reuters

    Samsung Electronics confirms coronavirus case at phone factory complex in S.Korea

    Samsung Electronics said on Saturday that one coronavirus case had been confirmed at its mobile device factory complex in the southeastern city of Gumi, causing a shutdown of its entire facility there until Monday morning. Samsung Electronics, the world's top smartphone maker, said the floor where the infected employee worked would be shut down until the morning of Feb. 25. "The company has placed colleagues who came in contact with the infected employee in self-quarantine and taken steps to have them tested for possible infection," Samsung said in a news release.

  • Reuters

    WRAPUP 1-China reports fewer cornonavirus cases outside epicentre, cases surge in S. Korea

    SHANGHAI/SEOUL, Feb 23 (Reuters) - China reported another fall in the new coronavirus infections outside of its epicentre on Sunday, but world health officials warned it was too early to make predictions about the outbreak as new infections and fears of contagion increased elsewhere. China's health commission confirmed 648 new infections on Sunday - higher than a day earlier - but only 18 were outside of Hubei province, the lowest number outside of the epicentre since authorities started publishing data a month ago.

  • White House to Host Huawei Rivals at 5G Meeting, Kudlow Says
    Bloomberg

    White House to Host Huawei Rivals at 5G Meeting, Kudlow Says

    (Bloomberg) -- The White House plans to hold a conference with Huawei Technologies Co. rivals to try to accelerate development of affordable competing 5G wireless technology, President Donald Trump’s top economic adviser said Friday.“We’re working carefully, closely with Nokia and Ericsson,” National Economic Council Director Larry Kudlow told reporters. “We’re going to be holding some kind of a conference in about a month. I’m sure the president would join us in part, that would include Samsung, that will include all of our guys.”He later told Fox Business that the meeting “might take place” in early April, and that companies including AT&T Inc., Verizon Communications Inc. and Qualcomm Inc. would be represented.The U.S. has engaged in a campaign to persuade other countries not to use Huawei equipment in emerging 5G networks, but the effort has faltered due to a lack of competing technology. Attorney General William Barr suggested recently the U.S. government or American companies should consider investing in Huawei competitors Nokia Oyj of Finland and Ericsson AB of Sweden to try to prevent the Chinese company’s technology from being widely adopted.Kudlow called the U.K. government’s attitude toward Huawei in particular “sub-optimal.” Trump has spoken repeatedly this month with British Prime Minister Boris Johnson, berating him in at least one phone call for refusing to ban Huawei gear.“They have made some concessions about putting the lid on Huawei, but I’m an optimist, I believe we can work through it, they are our great allies,” Kudlow said.The U.S. alleges that the Chinese government will use equipment from the Shenzhen-based company to spy on nations that install it in their networks. Huawei has denied that the Chinese government controls the company or has access to its products.(Updates with details of conference in third paragraph. An earlier version corrected a misspelling of Huawei in the first paragraph.)\--With assistance from Jennifer Jacobs.To contact the reporter on this story: Josh Wingrove in Washington at jwingrove4@bloomberg.netTo contact the editors responsible for this story: Alex Wayne at awayne3@bloomberg.net, John Harney, Virginia Van NattaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Vietnam reports supply chain issues from virus, says may hit Samsung output
    Reuters

    Vietnam reports supply chain issues from virus, says may hit Samsung output

    Vietnam's manufacturing sector is suffering supply chain problems caused by the coronavirus epidemic, which may delay production of Samsung Electronics' new phones, the Ministry of Industry and Trade told Reuters on Friday. "Vietnam relies much on China for materials and equipment, which makes the country become vulnerable when such outbreak happens," it said. Vietnam on Thursday eased some health-related restrictions on cross-border trade to prop up economic activity, but some strict measures are still in place.

  • Samsung Electronics names non-executive director as board chairman in company first
    Reuters

    Samsung Electronics names non-executive director as board chairman in company first

    Samsung Electronics Co Ltd said on Friday it has named a non-executive director as board chairman for the first time, to increase transparency and independence. Former Finance Minister Bahk Jae-wan replaces Lee Sang-hoon who was jailed in December for interfering with union activities. The appointment, which is effective immediately, comes as Samsung heir apparent Jay Y. Lee and former executives face trial for alleged involvement in a bribery scandal linked to impeached President Park Geun-hye.

  • Bloomberg

    Review: Can Samsung’s New Z Flip Convert iPhone Fans?

    (Bloomberg) -- Many iPhone users are wed to Apple Inc.’s ecosystem, but the latest Galaxy device from Samsung Electronics Co. may finally get them to turn a curious eye.The Galaxy Z Flip is Samsung’s second try at a compelling foldable device after last year’s Galaxy Fold. This sophomore effort costs a less astronomical $1,380, fits into much smaller pockets and opens and closes just like the flip handsets of years past.The reactions -- at least in Samsung’s home base of South Korea -- to the foldable Z Flip have been instant and infectious. For a gadget intended to attract attention, this rethinking of the Android smartphone is off to a solid start. The Flip was released on Valentine’s Day and sold out on the first day in several key markets. It’s out of stock now on Samsung’s website, which went down for two hours around midnight Friday after a limited edition designed by Thom Browne went on sale. Posts of creative Flip accessorization are gaining traction on Twitter and Instagram. In a world of me-too mobile devices, the Z Flip is eye-catching. But it’s also an absolute fingerprint magnet that requires tender use and care.“I’ve always stuck to the iPhone, but this is the most tempting moment to consider switching to Galaxy,” said Kyuhee Kang, a 29-year-old designer in Tokyo who’s been an Apple loyalist since the iPhone 4.Read more: Samsung Bets on Big Camera Upgrade in Galaxy S20, Unveils Z FlipThe 6.7-inch screen of the Galaxy Z Flip collapses into a palm-sized square akin to a Chanel compact -- and Samsung encourages that luxury association with high-gloss finishes and a limited edition in collaboration with designer Browne.Priced between the upgraded versions of Apple’s iPhone 11 Pro Max and 11 Pro, the Flip is a premium offering that Samsung wants to differentiate. There’s a certain nostalgic tug about answering calls by opening the gadget, then hanging up by snapping it shut. At the same time, it’s such a large device that if I were to operate it single-handedly every time I’d quickly develop thumb or wrist strain. Two hands are required for safety.The still-nascent foldables category has two huge hurdles to overcome: proving its durability and offering sufficient, not necessarily superlative, specs. Motorola’s Razr, a close competitor to Samsung’s Z Flip, is thought to be fragile by at least one reviewer and is a step behind on almost every front: the camera, battery life, processor and display are all underwhelming.Motorola’s $1,500 Razr Reboot Feels More Prototype Than PremiumTrue to its spec-obsessive pedigree, Samsung made sure the Z Flip is well stocked in most categories, though the Z Flip is noticeably behind on battery life. It has a large display but its battery is segmented in two because of the space requirements of its hinge, so it’s smaller. That hinge applies lessons learned from the Galaxy Fold and feels rigid and strong. One early Z Flip owner, however, managed to break his device’s display by merely flipping it open, and there’s been a controversy online about how easily the Flip’s ultra-thin glass gets scratched. Samsung says there’s a protective layer atop the glass and that’s what testers are able to scuff.The hinge enables the Z Flip to stand at a variety of angles much like a laptop. This has allowed me to record my four-month-old puppy’s first bathing moment and shoot time-lapses of snowy scenes without a tripod. Couples may like the split-screen mode that lets them message each other on one half of the screen while watching or playing something on the other. The phone also becomes its own stand for watching videos and taking selfies.Samsung still has room for improvement on the design of its foldables, which feature a chunky bezel that doesn’t sit flush with the display and thus prevents smooth swipes from the edge of the screen -- required by Samsung’s own user interface. The Z Flip also has an underwhelming mono speaker. Last but not least, the 1.1-inch front display is too small to show anything more useful than an icon signifying the type of notification received.Will iPhone fans end up abandoning their iMessages and Apple Music playlists? Probably not that many for this Flip generation, as the balance between price, benefits and compromises still has a way to go. But Samsung has crafted the most refined and fully featured foldable device to date. It won’t move the entire market just yet, but it’s stirring the interest that may yet make the foldable category a success.(Updates with Samsung website outage in the third paragraph)To contact the reporter on this story: Sohee Kim in Seoul at skim847@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Vlad SavovFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters

    EU privacy body warns of privacy risks in Google, Fitbit deal

    Alphabet Inc-owned Google's $2.1 billion bid for fitness trackers company Fitbit could pose privacy risks, the European Data Protection Board (EDPB) warned on Thursday, adding its voice to other critics of the deal. Google announced the deal in November last year, as it seeks to compete with Apple and Samsung in the crowded market for fitness trackers and smart watches. Fitbit, whose fitness trackers and other devices monitor users' daily steps, calories burned and distance travelled, would give the U.S. tech giant access to a trove of health data gathered from Fitbit devices.

  • South Korea bourse to decide cap on Samsung's index weighting in June
    Reuters

    South Korea bourse to decide cap on Samsung's index weighting in June

    South Korea's stock exchange said on Wednesday that it would decide in June whether the weighting of Samsung Electronics in the KOSPI 200 index should be capped. The Korea Exchange said in a statement that though it discussed whether to adopt a 30% cap before June, the plan was put off after discussions with the industry. Samsung Electronics accounted for 32.9% of Korea's bluechip KOSPI 200 as of Tuesday, the official added.

  • Europe Floors It in the Race to Dominate Car Batteries
    Bloomberg

    Europe Floors It in the Race to Dominate Car Batteries

    (Bloomberg) -- Outside the German town of Arnstadt, workers for China’s Contemporary Amperex Technology Co. Ltd. (CATL) are hustling to build Europe’s biggest electric-car battery plant.The  site, which covers an area equivalent to about 100 football fields, previously housed one of the continent’s largest solar-panel factories. During a visit in October, wooden crates filled with surplus equipment were stacked up outside the metal-clad structure to make way for car-battery-making equipment. Roaring bulldozers swarmed a nearby lot to prep for construction of a new building.The $2 billion project—one of about a half dozen battery factories under construction in Germany alone—worries European policymakers, who are desperate to ensure their auto industry doesn’t lose competitiveness in the transition to electric vehicles. EV sales in Europe are expected to jump to 7.7 million in 2030 from just under half a million in 2019, according to forecasts from BloombergNEF. Those vehicles will mainly be powered by batteries from Asian manufacturers like CATL, unless European companies fight back and build a local supply chain.EVs and clean transportation are at the heart of the European Union’s Green Deal, a more than €1 trillion ($1.1 trillion) European Commission policy initiative aimed at making the EU carbon neutral by 2050. The plan includes replacing large power plants with smaller, more local, renewable energy sources while eliminating combustion engines in buses, cars, and trucks. After betting on dirty diesel for too long, European politicians and the heads of Volkswagen, Daimler, and BMW are vowing to build a greener supply chain for all of those vehicles.“If we let China own the battery, then we lose out on the centerpiece of electric cars,” says German Deputy Economy Minister Thomas Bareiss. “I’m not sure that’s the best approach for our auto industry.”Europe has only a patchwork of small battery players. The biggest chunk of the value of a European-made electric car belongs to Asia—China, Korea, and Japan account for more than 80% of the world’s EV battery production, and companies such as CATL, LG Chem, and Samsung SDI control Europe’s biggest battery factories.To change that, the European Commission set up the Battery Alliance initiative. In December it approved €3.2 billion in aid for projects approved or currently under way at 17 companies, including BASF, BMW, and Fortum. The measure is meant to encourage greater investment in factories by these and other European companies.National governments are also committing large sums to battery efforts, especially in Germany. In early February its economy minister, Peter Altmaier, announced a €5 billion project for battery cells in Germany and France. Altmaier has been a leading proponent of developing a local battery sector. The goal, as he sees it, is to build “the best and most sustainable batteries in Germany and Europe.” There is no other option, he has said, if its carmakers are to succeed.European players, including Belgian materials technology company Umicore N.V. and German chemical company BASF SE, make battery materials from catalysts to cathodes. But there is little mining of key ingredients like lithium, and no capacity to turn those resources into high quality vehicle batteries. A desire to bring  lithium and other materials closer to the production line is partly driving the efforts. “Lithium hydroxide doesn’t travel well,” say Andreas Scherer of AMG Advanced Metallurgical Group NV. “It doesn’t like to sit in a bag in the belly of a ship for six weeks—that’s bad for quality.”Stringent environmental rules and community opposition to more mines could slow the momentum. Land owners and environmental groups fear the resulting emissions and pollution. Finland’s Keliber Oy in November postponed its planned initial public offering and the construction of a lithium mine on appeals against its environmental permit.Some countries are pushing ahead. Support from the European Commission to mine battery metals—and the potential riches—motivated Dietrich Wanke to trade a career in Australian mining for the green hills of the Lavant valley in Wolfsberg, Austria. Wanke is the Chief Executive Officer of European Lithium, a startup mining company that aims to become a supplier of raw material for batteries. It operates from an abandoned test tunnel in Austria, where government geologists looking for uranium in the 1980s found lithium instead.“We won’t be able to produce the absolute cheapest material. It is clearly a commodity mined in Europe, according to European laws and environmental standards,” Wanke says. “It must be seen as a unique product, contributing to the reduction in carbon dioxide emissions in Europe.”The Wolfsberg project is traditional hard-rock mining, with the ensuing environmental consequences. Another startup, or junior, miner, Vulcan Energy Resources Ltd., claims it will produce the material with no CO₂ emissions by adding lithium-extraction facilities to existing geothermal power plants feeding on underground reservoirs in southern Germany. The method is similar to what Warren Buffett’s Berkshire Hathaway Inc. is researching in California’s Salton Sea. “By 2028, forecasters see Europe alone needing more lithium than is being produced in the entire world today,” says Vulcan Energy’s managing director, Francis Wedin. Still, the efforts now could be too little, too late. “European manufacturers have dragged their feet,” says Jose Lazuen, senior automotive practice analyst at Roskill. “Asian producers started taking positions in Europe two or three years ago, because they knew Europeans would need batteries.”While others are talking, the Chinese are busy building out capacity in Arnstadt for what’s shaping up to be another clean energy fight. The battleground is a former solar panel factory where two previous German owners failed to compete against low-price competition from China. As Germany’s deputy economy minister, Bareiss, says, “It’s about staying in the game and playing a role in a critical technology.”\--With assistance from Ewa Krukowska and Birgit Jennen.To contact the authors of this story: Laura Millan Lombrana in Madrid at lmillan4@bloomberg.netChris Reiter in Berlin at creiter2@bloomberg.netRichard Weiss in Frankfurt at rweiss5@bloomberg.netTo contact the editor responsible for this story: Dimitra Kessenides at dkessenides1@bloomberg.netFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Samsung Offers Phone Delivery Service in Parts of South Korea
    Zacks

    Samsung Offers Phone Delivery Service in Parts of South Korea

    Samsung (SSNLF) launches smartphone delivery service for customers to test new phones to mitigate the effect of the coronavirus outbreak.

  • Exclusive: Samsung wins 5-nanometer modem chip contract from Qualcomm - sources
    Reuters

    Exclusive: Samsung wins 5-nanometer modem chip contract from Qualcomm - sources

    SAN FRANCISCO/SEOUL (Reuters) - Samsung Electronics Co Ltd's semiconductor manufacturing division has won a contract to make new Qualcomm Inc 5G chips using its most advanced chip-making technology, two sources familiar with the matter said, boosting the Korean firm's efforts to gain market share against rival Taiwan Semiconductor Manufacturing Co. Samsung will fabricate at least some of Qualcomm's X60 modem chips, which will connect devices such as smart phones to 5G wireless data networks. The X60 will be made on Samsung's 5-nanometer process, the sources said, which makes the chips smaller and more power-efficient than previous generations.