|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||988.00 - 990.50|
|52 Week Range||988.00 - 990.50|
|Beta (3Y Monthly)||0.88|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Moody's Investors Service has downgraded the foreign currency long-term issuer rating of Samsung Securities Co., Ltd. (Samsung Securities) to Baa2 from Baa1. At the same time, Moody's has affirmed Samsung Securities' foreign currency short-term issuer rating of P-2.
Moody's Investors Service ("Moody's") assigned a B2 Corporate Family Rating (CFR) and B2-PD Probability of Default Rating (PDR) to Cerence LLC ("Cerence") in connection with the company's expected spin-off from, Nuance Communications, Inc. ("Nuance" Ba3, Stable), and Cerence's concurrent proposed debt financing. Cerence's proposed $425 million senior secured term loan B and $75 million revolving credit facility were assigned ratings of B2, in line with the CFR.
(Bloomberg) -- Samsung Electronics Co. and Huawei Technologies Co. took turns announcing new mobile processors at the IFA technology show in Berlin last week, and the big thing the new chips have in common is an integrated 5G modem.In a market dominated by U.S. rival Qualcomm Inc., the world’s two biggest smartphone manufacturers asserted a lead in delivering one of the keys to unlocking widespread availability of 5G devices. A system-on-chip that integrates the applications processor and a fifth-generation wireless modem significantly reduces the space and power requirements compared to existing solutions that use two separate chips.Qualcomm has such models on its 2020 road map, but this past week Samsung announced it’s planning mass production for its alternative at the end of 2019 and Huawei is moving even faster, promising to release its most advanced processor with the Mate 30 Pro smartphone on Sept. 19.The Kirin 990 5G from Huawei subsidiary HiSilicon is built at Taiwan Semiconductor Manufacturing Co. and packs more than 10.3 billion transistors into a space the size of a fingernail. It includes a graphics processor, an octa-core CPU, and the all-important 5G modem, along with dedicated neural processing units for accelerating artificial intelligence tasks.At Huawei’s Berlin launch event, consumer group Chief Executive Officer Richard Yu showed the high-end 990 5G achieving real-world download speeds on China Mobile’s network in excess of 1.7Gbps. That’s fast enough to download high-definition movies and demanding 3-D games in a matter of seconds.Samsung’s approach with its Exynos 980 is to target the mid-range. Along with 5G capabilities, this new chip integrates 802.11ax fast Wi-Fi along with Samsung’s own NPU. It won’t run apps and games quite as quickly as flagship chips, but should help the South Korean company garner a slice of the more mainstream market before Qualcomm brings out an armada of new 5G-capable chips next year.Samsung’s emphasis on this part of the mobile market was also signaled by its launch of the Galaxy A90 this month, one of the earliest examples of a mid-range device with 5G.Huawei’s Next Flagship Phone Set to Sink Without Google Apps (1)For its part, Qualcomm is promising to cover the entire range of price points and mobile device types with its 5G portfolio in 2020, however the world’s premier mobile chip designer is finding itself behind its faster-moving rivals.While Huawei is “pushing to show tech leadership,” the company has “made sacrifices in order to make an integrated SOC,” said Anshel Sag, mobile industry analyst at Moor Insights & Strategy. He cited the chip’s lack of support for mmWave -- the high-frequency 5G favored by U.S. carriers AT&T Inc. and Verizon Communications Inc. plus some European ones -- as an example. The Kirin 990 5G is fast by today’s standards and a great upgrade for Huawei’s upcoming devices in China, but Sag said it’ll find itself outpaced by rivals in 2020.The silver lining to the trade war for Qualcomm, however, is that Huawei’s Mate 30 Pro will struggle to sell in Europe so long as the Trump administration prevents it from offering Google services on new phones. Irrespective of how fast and advanced its Kirin 990 5G may be, the trade war will prevent Huawei from fully capitalizing on its capabilities and may, in fact, push the company to license the chip out to other smartphone vendors, such as Lenovo Group, which is not subject to the same sanctions.If the U.S. keeps Huawei on its blacklist, preventing it from buying American technology, the company faces further chip challenges. To develop successors to the Kirin 990, it needs to license the latest designs from SoftBank Group’s ARM, but that company discontinued work with Huawei because of the U.S. ban.(Updates with analyst comment in the third from last paragraph.)To contact the reporter on this story: Vlad Savov in Tokyo at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Nate Lanxon, Peter ElstromFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
SAN FRANCISCO/BERLIN, Sept 6 (Reuters) - Qualcomm Inc promised on Friday to bring 5G mobile phones to the masses with a high-end modem and said its chips would also power mid-price devices hitting the market next year. Fifth-generation chipsets from Qualcomm, the world's biggest supplier of mobile phone chips, now run on five devices from Samsung Electronics, including the $1,299 Galaxy S10 5G model and the new $2,000 Galaxy Fold. Samsung, the world's top smartphone seller, has also put Qualcomm chips in its lower-priced A90 5G model, which had used Samsung chips in an earlier version.
The innovative multi-screen device was initially slated to be released in April, but its release was pushed back when multiple press reviewers experienced problems with defective screens.
in South Korea on Friday, promising that the screen defects that marred its initial launch in April have been fixed. will become part of a family of folding devices and is betting that it can revive slowing smartphone sales with the design. Samsung has extended the smartphone’s protective layer beyond the bezel to stop users from removing it and added protection caps on the fold’s hinges to protect the device from external particles. It said it had extensively tested the phone over the past five months to make sure that initial problems with breaking screens do not recur.
Samsung Electronics has begun to use domestically produced etching gas in its chipmaking process in a move to reduce its dependence on Japanese suppliers amid a deepening trade dispute between South Korea and Japan. “We’ve tested the use of hydrogen fluoride made by domestic suppliers and begun to use it in the production process, along with Japanese imports,” said a Samsung executive.
The world’s biggest smartphone maker announced early Thursday that the Galaxy Fold will go on sale in South Korea on Friday, and in select countries such as the U.S., the U.K., France and Germany “in the coming weeks.”
SEOUL/BERLIN (Reuters) - Samsung Electronics Co Ltd on Thursday said its first foldable smartphone, the Galaxy Fold, will be available in South Korea from Sept. 6 with fifth-generation (5G) mobile connectivity. It will go on sale in Britain, France and Germany in less than two weeks, with a U.S. release also planned. The remodeled version of the Galaxy Fold, which opens like a book to reveal a 7.3-inch infinity display, now has the screen's protective layer tucked under the bezel at its edge.
Samsung Electronics Co Ltd’s first foldable smartphone, the Galaxy Fold, will go on sale on Friday in South Korea, a source with direct knowledge of the matter said on Wednesday. Samsung declined to comment on Wednesday. Samsung has promised to usher in a new age of foldables as part of its effort to showcase innovation amid the saturated smartphone market.
(Bloomberg) -- South Korea’s highest court stunned the nation when it ordered billionaire Samsung heir Jay Y. Lee to face trial once more for corruption. And it all came down to three horses.The Supreme Court on Thursday ordered the retrial of the Samsung Electronics Co. vice chairman over bribery charges, reviving uncertainty around the country’s most important company just as it’s navigating global trade turmoil. The court also sent for retrial the case of former president Park Geun-hye, the alleged beneficiary of that bribery. The matter connecting them is a gift of three equines, which Korea’s most senior judges have now ruled should be considered a bribe. Valued at 3.4 billion won ($2.8 million), the three horses push up the total alleged bribery amount to a tier where Lee could face a minimum of five years in prison with no possibility of a suspended sentence.This more assertive judiciary stance may signal a change in the way Korea’s government scrutinizes its chaebol, the large family-controlled conglomerates like Samsung, and looks like a step toward reining in their power and influence. For Samsung itself, this new chapter will at best be a distraction that the company can ill afford as it grapples with a downturn in its major businesses of displays, memory chips and smartphones. At worst, it could deprive the company of a charismatic leader with a global network of useful connections and relationships.“Horses became a contentious issue for this trial because the value could sway the punishment against Lee,” said Jungkeun Lim, attorney at TY & Partners in Seoul. “This is a matter of imprisoning Lee or not.”The stock market hasn’t been panicked by the news, with Samsung shares sliding by as much as 2.5% on the day of the Supreme Court ruling before recovering in trading on Friday. The stock ended 1.4% higher in Seoul.The bribery saga goes back to a one-on-one meeting between Lee and Park on Sept. 15, 2014, the top court’s written judgment said. Lee, the de-facto heir of the Samsung Group, was asked for a horse for the daughter of Park’s close friend and confidante Choi Soon-sil, the document said, which Lee passed along and would later go on to take a personal interest in by checking for updates, according to the court.The original 2017 trial centered on a controversial merger in 2015 between two Samsung affiliates that gave Lee fresh shares in Samsung C&T Corp., then a major shareholder of Samsung Electronics. Prosecutors argued that Lee sought to ensure the deal passed by indirectly bribing the president at the time. Lee and Samsung have denied any wrongdoing.The ruling from the Supreme Court this week said that Lee and other Samsung executives offered three horses -- named Salcido, Vitana and Rausing -- to former president Park’s friend Choi. Lee was aware of the close relationship between Park and Choi and secretly offered the horses to Choi’s daughter Jung Yoo-ra, a professional equestrian athlete, said the court documents.Lee took a more active and urgent interest in the matter after a second meeting where Park told him again to “buy a good horse,” said the court. The details of the process were decided by Choi, while Lee’s main concern was to offer enough to satisfy Choi without it being so much as to draw public scrutiny, according to court documents.The ensuing scandal shone a spotlight on the cozy relationship between chaebol like Samsung and the Blue House, Korea’s equivalent to the White House. It provoked protests in the streets of Seoul, Lee was arrested and president Park was impeached.After serving a year in prison, Lee was freed in February 2018 by an appellate court decision that halved his five-year sentence and suspended it. That’s the decision the Supreme Court has struck down, and the Samsung leader now faces a months-long retrial and a potential return to jail.The earlier trial also looked into the issue of equine bribery, with Samsung accused of trying to conceal its gift of a 1-billion-won horse by exchanging it for another animal -- effectively, laundering an equine. The prosecution presented a series of text messages, emails and memos among Lee’s lieutenants to support the allegation that Samsung originally gave the daughter of Park’s confidante a horse for athletic competitions. Once media scrutiny began, Samsung agreed to replace it with another called Vladimir, they said.Chief Justice Kim Myeong-su, reading out the 10-to-3 majority decision, ruled Thursday that the lower court should have considered as possible bribes three horses --not just the one -- and other financial support provided to a sports education center controlled by Choi. Taken together, that would increase the alleged bribes that Samsung offered by 5 billion won to a total of more than 8 billion won. Under Korean law, any financial crimes above 5 billion won are subject to a minimum five-year sentence that cannot be suspended.“People have a lack of trust in the judiciary, which is seen as lenient toward those with money and power but harsh on the poor,” said Kim Nam-geun, a lawyer at People’s Solidarity for Participation Democracy, a civic group based in Seoul. “This case should be a stepping stone to changing that perception.”(An earlier version of this story corrected the name of the chief justice in the final paragraph.)(Updates with shares and analyst’s comment from the fifth paragraph.)\--With assistance from Edwin Chan.To contact the reporters on this story: Sohee Kim in Seoul at email@example.com;Sam Kim in Seoul at firstname.lastname@example.orgTo contact the editors responsible for this story: Peter Elstrom at email@example.com, Vlad Savov, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- South Korea’s highest court ordered the retrial of Samsung Electronics Co. Vice Chairman Jay Y. Lee over bribery charges, reviving legal uncertainty around the country’s largest company just as it’s navigating global trade turmoil.The Supreme Court on Thursday voided an earlier decision to suspend Lee’s 2.5-year prison sentence and is sending the case back to the lower court, it said. Lee may end up going to prison again, having previously served a year after getting arrested in February 2017. He was released in 2018 after the Seoul High Court halved what had originally been a five-year term and suspended it for four years.Lee, 51, was the highest-profile business figure to have been embroiled in a graft probe that inflamed resentment toward the country’s well-connected chaebol, rocked domestic politics and helped bring down former President Park Geun-hye, who was removed from office in 2017. The Samsung executive was accused of directing tens of millions of dollars to entities controlled by a confidante of Park in return for government support of a 2015 merger that cemented his control of the group. The court on Thursday also ordered a retrial for Park, who is already in jail, arguing she should face trial on broader bribery charges.“It’s highly likely that Jay Y. Lee will get a jail sentence in a retrial as the amount of bribes has extended,” Chung Sun-sup, chief executive officer at corporate research firm Chaebul.com, said by phone. “This is the apex of the chaebol reform, a signal that chaebol’s misbehavior will not be allowed.”Samsung’s new investments and mergers and acquisitions are at risk, said Heo Pil Seok, chief executive officer at Midas International Asset Management Co., adding the lower court may hand down a heavier ruling against Lee. If Lee is again jailed, the setback to Samsung’s business may affect its suppliers as well and disrupt new orders.In particular, new investments in areas such as system chips and 5G networking that had been driven by Lee could be affected over the longer term if he goes to prison, according to a person familiar with the group’s situation. If Samsung loses Lee, it may be tough to keep its global network intact, said Park Ju-gun, president at CEOScore.Lee, who has led Samsung for most of the time since his father suffered a heart attack in 2014, will now have to deal with a possible months-long retrial at a time when China and the U.S. are escalating a trade war and Japan is restricting exports of key materials to South Korea. Samsung has also been grappling with falling profits from a memory chip downturn and sluggish smartphone demand.Read more: Samsung’s Jay Y. Lee Set Free in Unexpected Court Reversal (1)“Samsung Electronics deeply regrets that this case has created concerns across the society,” the company said in a statement. “We will renew our commitment to carrying out the role of a responsible corporate citizen and will avoid a recurrence of past mistakes.”Samsung Electronics shares fell as much as 2.5%.Lee is the designated heir to South Korea’s largest conglomerate and a national icon. Founded 1938 by Lee’s grandfather, Lee Byung-chull, Samsung Group has become a global behemoth, the world’s largest supplier of memory chips and smartphones under the leadership of chairman Lee Kun-hee. Its crown jewel is Samsung Electronics, which accounts for more than 80% of the $300 billion-plus value of the gadgets-to-shipbuilding group’s market value.The original trial of the heir to the 50-year-old tech giant centered on a controversial merger in 2015 between two Samsung affiliates that gave Lee fresh shares in Samsung C&T Corp., then a major shareholder of Samsung Electronics. Prosecutors argued that Lee sought to ensure the deal passed by bribing a close confidante of former president Park. The ensuing scandal shone a spotlight on cozy relationships between family-controlled conglomerates, known as chaebol, and the Blue House, provoking protests in the streets of Seoul. Lee was arrested and Park was impeached.On Thursday, Chief Justice Kim Myeong-su ruled that the lower court should have considered as possible bribes three horses and other financial support provided to a sports education center controlled by the confidante, Choi Soon-sil. That decision could increase the alleged bribes that Samsung offered by 5 billion won.Samsung has said the 2015 merger was intended to boost its competitiveness, and Lee argued during trials that the deal didn’t increase his control over the company. The historic merger was so controversial however that New York-based activist fund Elliott Management Corp. fought to stop the deal, saying it came at the expense of shareholder value.After fending off Elliott, Lee responded to shareholders’ requests with massive return plans and hunted for mergers and acquisitions, raising his profile as the “center of gravity” who made key decisions about mid- to long-term strategy. Lee joined Samsung’s board for the first time in October 2016 and his term will expire this October.Cracking down on the chaebol was a top priority for the Moon Jae-in administration in its first year. However, the ailing economy brought the Moon government closer to Samsung and Lee was jetting from India to Pyongyang just months after his release from jail, again the face of successful Korea business.Samsung Group still has to tackle other legal and governance tasks. Prosecutors have not concluded an investigation into accounting at Samsung Biologics Co., a probe related to the 2015 merger. Lee must also come up with a plan to inherit his father’s stakes in key affiliates, including a 20.8% stake in Samsung Life Insurance Co., that could cost him almost $7 billion.“During the past few years, Samsung has faced significant challenges from external and internal uncertainties and we have been constrained in our efforts to focus on leading new businesses for the future,” the company said in its statement. “In this increasingly uncertain and difficult economic environment, we ask for support and encouragement so we can rise above the challenges and continue to contribute to the broader economy.”(Updates with analysts’ comments in the fifth paragraph.)\--With assistance from Heejin Kim.To contact the reporter on this story: Sohee Kim in Seoul at firstname.lastname@example.orgTo contact the editors responsible for this story: Edwin Chan at email@example.com, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Supreme Court nixes ruling that saw Lee Jae-yong walk out of prison after less than a year for bribing the government, but he could be sent back
South Korea's Supreme Court on Thursday ruled that a bribery case against the heir of the Samsung Group should be reviewed by a lower court, raising the possibility of a tougher sentence and potential return to jail. The Supreme Court overturned part of an appeals court bribery conviction against Samsung's de facto chief Jay Y. Lee, who had been given a two-and-a-half-year suspended sentence for seeking favour from the country's ex-leader.
Samsung Group will discover the fate of its de facto leader on Thursday as South Korea's Supreme Court rules whether to uphold the bribery conviction of Jay Y. Lee, in a scandal that unseated the president and trained public ire on corporate untouchables. The ruling will also determine how much Lee, 51, can focus on steering the group's flagship Samsung Electronics Co Ltd through falling profitability and Japanese export curbs on materials crucial for the world's leading chipmaker. The Supreme Court is also set to rule on appeals court decisions in the case against former President Park Geun-hye, who was impeached following the scandal and is serving a 25-year prison sentence on charges including bribery.
South Korea's Supreme Court on Thursday ruled that a bribery case against the heir of the Samsung Group should be reviewed by a lower court, raising the possibility of a tougher sentence and potential return to jail. The Supreme Court overturned part of an appeals court bribery conviction against Samsung's de facto chief Jay Y. Lee, who had been given a two-and-a-half-year suspended sentence for seeking favor from the country's ex-leader. The Court said the interpretation by the Seoul High Court on what constituted bribes by Samsung to then-President Park Geun-hye was too narrow and returned the case to the appellate court.
President Donald Trump’s hard stance toward China on trade, and Huawei Technologies Co. specifically, didn’t help iPhone sales in the second quarter. While Huawei recorded a 16.5% jump in smartphone sales year-over-year, spurred by sales in its native China, Apple Inc.’s sales fell 13%, according to global sales figures released Tuesday by market researcher Gartner Inc.
South Korea's Supreme Court said it will rule next Thursday on whether to uphold the reduced sentence given to Samsung Group heir Jay Y. Lee or ask an appeals court to revisit a case that was part of a graft scandal that brought down the country's then-president in 2017. The 51-year old Lee was convicted of bribing Choi Soon-sil, a close friend of former President Park Geun-hye. Both Lee and state prosecutors appealed to the Supreme Court, leaving the top court with the options of either upholding the appeals court's ruling or asking it to reconsider its judgment, legal experts say.
South Korea's Supreme Court is to rule next Thursday on whether to uphold a reduced sentence given to Samsung Group heir Jay Y. Lee or ask an appeals court to revisit a case that was part of a graft scandal that brought down the president in 2017. The ruling will be a test of South Korea's pledge to reform dominant conglomerates criticised for cozy relationship with political leaders, at a time when the Asia's fourth-biggest economy is facing a series of headwinds. The 51-year old Lee was convicted of bribing Choi Soon-sil, a close friend of former President Park Geun-hye.
Apple is reportedly in the final stages of signing off on new advanced screens for its iPhones from China's top display maker, BOE Technology Group.
Aug.29 -- South Korea’s highest court ordered the retrial of Samsung Electronics Co. Vice Chairman Jay Y. Lee over bribery charges, reviving legal uncertainty around the country’s largest company just as it’s navigating global trade turmoil. Peter Elstrom reports on "Bloomberg Daybreak: Asia."
Samsung has released its new Galaxy 10 and Galaxy 10+ phones. Yahoo Finance’s Editor-In-Chief Andy Serwer joined The Final Round and Dan Howley to discuss the phones new features.