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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.
Ask a lot of Wall Street analysts what to buy today, and many of them will say Micron Technology (NASDAQ:MU). On the surface the memory maker looks dirt cheap for a tech stock. The price-earnings ratio is below 6, and price to sales is just 2. Assuming the inventory recession of last year is over, results could improve sharply. Even if they don't, MU stock is still a bargain.Source: Charles Knowles / Shutterstock.com But there's a reason Micron sells at 6x earnings. Micron's history is one of booms and busts, and this bust may not be over. That's because the good times have brought out some big new suppliers.So, buy or sit?InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Buy ArgumentThe buy argument starts with the most recent results, delivered in June. Net income of $1.2 billion, or $1.05 per share on revenue of $4.79 billion was "better than feared." Chip prices are stabilizing and could start to rise by the end of the year.Micron next reports earnings September 26. The consensus estimate is for net income of 42 cents per share, or about $500 million, on revenue of $4.5 billion. There is also a "whisper number" of 49 cents per share. * 7 Stocks to Buy In a Flat Market Analysts are expecting an upside surprise. They have set a low bar they expect the company to clear handily. The stock is still "priced for disaster" as our Thomas Niel wrote recently. Whether this is the bottom or next month is the bottom is less relevant than the idea that you can see the bottom. The Hold ArgumentWhile analysts have been boosting their price targets on the stock, $52-$55 isn't far from the $50 and change the stock is due to open at this morning.That's why the sages at InvestorPlace are telling bulls to be careful. Be careful in the short run, writes Will Healy. It's an "ugly road" to the top, writes Luke Lango, who recommended the shares at their bottom of $35.The concern, as always, is China. It's not just the trade war, with its tit-for-tat taxes. It's also China's stated goal of becoming independent of American chip suppliers. This starts with Micron. The U.S. government formally charged two Chinese companies with stealing Micron's intellectual property last year. Micron CEO Sanjay Mehotra was reportedly in China recently, meeting with one of the companies that were charged.There's also Intel (NASDAQ:INTC). Intel and Micron ended their memory partnership last year. Intel has opened a new front in the competition with new packaging, tying memory more closely with processing, including graphics processing.Samsung remains the biggest memory producer, with twice Micron's market share. Another Korean company, SK Hynix is also a bigger supplier than Micron. Bottom Line on Micron StockMy own optimism for Micron stock is based in large part on Mehotra, who became CEO two years ago. This came after a long career building Sandisk, now part of Western Digital (NASDAQ:WDC). * 10 Stocks to Sell in Market-Cursed September This is not Mr. Mehotra's first rodeo. He's like a great football coach you got because his previous team was sold.Mehotra has been making Micron more international, increasing hiring in India. Micron has the cost structure to compete against anyone, even the Chinese.While investors are getting ahead of themselves in the near term, the longer term remains bright. There is a super-cycle for memory. It began with phones, PCs and even cloud centers. Chip memory can also go into the tiny spaces needed to automate everything from factory equipment to refrigerators to traffic lights.If you have a five-year time horizon for a tech investment, you can buy Micron now. I said that months ago. It's still not too late.Dana Blankenhorn is a financial and technology journalist. He is the author of the mystery thriller, The Reluctant Detective Finds Her Family, available at the Amazon Kindle store. Write him at firstname.lastname@example.org or follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this article. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Battered Tech Stocks to Buy Now * 7 Strong-Buy Stocks Hedge Funds Are Buying Now * The 7 Best Penny Stocks to Buy The post Why Does Micron Stock Have Analysts Falling in Love All Over Again? appeared first on InvestorPlace.
South Korea has filed a complaint with the World Trade Organization over Japanese trade restrictions, in the latest escalation of a dispute stemming from Japan’s colonial rule over Korea that has dented security and trade relations between the key US allies. Seoul has complained that Tokyo’s removal in July of preferential trade status for three materials critical to South Korean technology companies violated WTO rules by regulating trade for political reasons. Japan’s export restrictions have raised fears of disruption among South Korea’s electronics manufacturers, the country's most important export industry.
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.
Per IDC, the global smartphone market witnessing a relentless slump in 2019 is likely to turn around for good in 2020, courtesy of the 5G adoption.
Wall Street’s big six — JPMorgan Chase, Bank of America, Goldman Sachs, Wells Fargo, Citigroup and Morgan Stanley — last gave guidance to investors at their second-quarter earnings in July, when most envisaged short-term interest rate cuts, like the one made by the Federal Reserve in July on the back of a slowing economy. Since then, further deceleration and fears over President Donald Trump’s trade wars have triggered widespread anticipation of more aggressive cuts, forcing down the rate on longer term debt.
For some it's just the usual September show-and-tell event Apple (NASDAQ:AAPL) has been hosting for years. For current and prospective owners of Apple stock, however, Tuesday's event at Apple's headquarters in Cupertino is so much more. It may be seen as -- and treated as -- an inflection point for the company, and subsequently for AAPL stock.Source: mama_mia / Shutterstock.com The make-or-break matter? The iPhone, or perhaps more specifically, the likelihood that other innovations can offset the slowdown the iPhone is facing.The company and its flagship product still has a large base of fans, of course, professional and amateur alike. After all, it's Apple. This is the company that mainstreamed the use of smartphones.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThat optimism may still not be enough to alter reality though. Tuesday's presentation will likely, finally jolt investors into making a bigger-picture decision that in turn shoves Apple stock into a longer-lived trend. Mixed Messages for AAPL StockThere's a twist to the story most of Apple's die-hard fans don't want to acknowledge. That is, consumers are losing interest in the iPhone. They have been since 2012. Sales of the device, as measured by units, peaked in 2017. iPhone revenue peaked last year.It's got nothing to do with an ability to make each iteration a little better than the prior version. Apple can still make big enough technological leaps to justify a new entry every year. The market is simply saturated with 'good enough' phones remaining in use for longer timeframes, particularly now that the average sticker price for most iPhone models has pushed past $1000.Competing high-end handhelds from the likes of Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) and Samsung Electronics (OTCMKTS:SSNLF) are contributing to the headwind.That's certainly not the party line the most loyal of fans has plugged into in front of media event. Rather, their rhetoric has mostly renewed cheers for the positive impact of the iPhone.Wedbush analyst Daniel Ives is one of those optimists. He believes "Apple's supply chain is planning on 75 million units for the initial iPhone 11 launch period, which is a slight uptick vs. its prior iPhone cycle last fall." Ives specifically touted "pent-up installed base demand" from owners ready for an upgrade.By and large though, most analysts recognize the future is about everything else Apple is now doing. CFRA analyst Angelo Zino went as far as to call the new iPhone lineup (given what's already known about them) "boring." Zino's is still interested in the event though, anticipating announcements regarding the company's television and video-gaming ambitions. An Unfamiliar Business ModelIt's a microcosm of the overarching headache investors are suffering.Most observers understand the iPhone is an increasingly smaller piece of the company's revenue mix, and that digital services is making up an increasingly larger portion of it. Dana Blankenhorn voiced it well last week, writing:"Under Tim Cook Apple has learned to squeeze increasing amounts of lifetime revenue from each Apple customer, thanks to its services, which are phenomenally profitable. Getting customers in the door is thus more important than making money off the initial sale."What's proving tough to handicap about the new business model is the pace of the transition, and whether or not the iPhone's revenue can ever fully be 'replaced' by services.On that matter Blankenhorn adds:"Analysts should be focused on the average revenue per user of Apple's user base, not the bright, shiny objects executives hold up next Tuesday."Tuesday's presentation won't answer all questions about the pace of the business model's shift or the monetization of Apple product owners. At best, it might lead the masses to a more educated guess.Still, more convinced they've got a better grip on what's to come, traders as a group are more likely to make a buy or sell decision that jump-starts a longer-lived trend. Looking Ahead for Apple StockFor the record, the market has given the company the benefit of the doubt, pushing Apple stock up 45% from its late-December low. The rebound is even more impressive given how iPhone sales fell short of expectations for the quarter ending in September of last year, followed by a 15% decline in iPhone revenue during the all-important holiday quarter.That bullish move, however, may have more to do with the market-wide tide than Apple itself.Without saying as much, many investors remain tacitly suspicious of Apple stock. How convincingly Tim Cook is able to make his product pitches on Tuesday -- and demonstrate their ability to drive services revenue -- will mean everything in that regard.At the very least it will solidify existing inklings, and subsequently set the tone for the stock's foreseeable future.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Deeply Discounted Energy Stocks to Buy * 7 Stocks to Buy In a Flat Market * 10 Stocks to Buy to Ride China's Emerging Wealth The post Why Tuesday's Apple Event Is Even More Important Than Usual appeared first on InvestorPlace.
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.
Back before Apple and Android phones put paid to Nokia's handset dominance, the Finnish manufacturer made other mis-steps, such as pretty much ignoring the clamshell trend popularised by Motorola's Razr. Nokia doesn't make phones anymore. It has licensed the brand instead to a Finnish company called HMD Global, packed with ex-Nokia people.
in a bid to ease tensions in their rapidly escalating trade war, according to statements from both Washington and Beijing. The decision by the two governments to press ahead with more talks comes amid growing alarm about the impact of the trade war on the US economy.
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.
AMD (NASDAQ:AMD) stock has held steady over the past few months. Shares have traded around the $30 per share mark since June. AMD stock continues to sell at a premium to peers such as Nvidia (NASDAQ:NVDA). But is this valuation justified?Source: flowgraph / Shutterstock.com High expectations are baked into the AMD stock price, but the company could have big catalysts on the horizon that could move the stock higher. This is countered by geopolitical risks that are tough to predict. Let's take a closer look at Advanced Micro Devices stock, and see why it's tough to make a call on the company's future performance. A Closer Look at AMD StockAs I discussed in my previous AMD stock article, the company has taken significant CPU and GPU market share from rivals Intel (NASDAQ:INTC) and Nvidia. The company's EPYC line of server processors has been a big success. Since the first quarter of 2018, AMD has nearly tripled their server market share, from 1% to 2.9%.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks to Buy Down 10% in the Past Week Beyond servers and GPUs, AMD is making a big return to the mobile graphics card business. In June, AMD announced it would license its intellectual property to Samsung (OTCMKTS:SSNLF) for use in mobile GPUs. This deal will not move the needle in the short-term, but this partnership could grow into a major opportunity for AMD.The company is still clawing back from revenue declines over the past 12 months. Sales for the quarter ending June 30 were in line with expectations. Revenue was up 20% quarter-over-quarter, but sales remain down 13% year-over-year. GPU sales are still down from the prior year, but have rebounded since the last quarter. Enterprise sales were still down YoY, but up 34% quarter over quarter thanks to the success of the EPYC processor line.The U.S.-China trade war remains top of mind when discussing risks to AMD stock. As InvestorPlace contributor Tezcan Gecgil wrote on Aug. 28, 30% of AMD's revenues come from China. The U.S. semiconductor space's dependence on China could sink the AMD stock price if the trade war continues. The specter of a recession is another reason to take caution before buying Advanced Micro Devices stock. Additional pullbacks in chip demand could threaten the stock's current valuation.Despite these risks, the stock continues to be "priced for perfection." Let's take a look at the valuation of AMD stock and see how it stacks up to peers. AMD Stock Remains OvervaluedAMD has a lot of potential. This explains why Advanced Micro Devices stock continues to trade at a substantial premium to peers. AMD stock currently trades at a forward price-to-earnings (forward P/E) ratio of 29.8. The company's enterprise value/EBITDA (EV/EBITDA) ratio is 65.6.Compare this to Nvidia: Nvidia stock trades at a forward P/E of 23.6, and an EV/EBITDA ratio of 35.4. Intel trades at an even more modest valuation. Intel shares trade at a forward P/E of 10.5, and an EV/EBITDA ratio of 6.8.But this valuation discrepancy could be justified. AMD has room to grow. Intel is struggling to maintain its dominant market share in the server chip space. AMD has gotten the best of Nvidia in the GPU sphere.However, with the macro risks in the chip space, it's tough to stomach the rich valuation of AMD stock. Piper Jaffray analyst Harsh Kumar agrees. He believes the company's growth potential is countered by the high valuation and geopolitical risks. These risks are not going away anytime soon. If these risks accelerate, they could have a material negative impact on the AMD stock price. Bottom Line: AMD Overvalued, but Could Climb HigherI remain bearish on AMD stock. The company has pulled off a massive turnaround in the past five years, but investors getting into stock today should not expect the big returns investors have seen in prior years. AMD's next earnings release is in late October. Between now and then, shares likely will trade at the same price level, barring any significant market moves. The continuation of the U.S.-China trade war could have additional impact.If AMD beats expectations for the next quarter, shares could climb higher. Although the valuation is rich, future performance is what investors at looking at with regards to AMD stock. So what's the call? In my opinion, all bets are off. Investors are not getting a value play buying Advanced Micro Devices stock. Investors who succeed in "predicting the unpredictable" could win if the AMD stock price rallies further up. But for those who want to play it safe, there are clearer growth opportunities out there.As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy Down 10% in the Past Week * 15 Retail Survivors to Buy for the Long Run * 7 Stocks That Wall Street Thinks Could Rise 50% Or More The post All Bets Are Off With AMD Stock appeared first on InvestorPlace.
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
Despite the uncertainty with U.S.-China relations and volatility in global markets, Micron (NASDAQ:MU) stock has been fairly resilient. Keep in mind that the return for this year is about 33%. By comparison, the shares of Intel (NASDAQ:INTC) are flat for 2019 and Broadcom (NASDAQ:AVGO) is up about 10%.Source: Charles Knowles / Shutterstock.com There are certainly important factors that explain the overall strength in MU stock. For example, the third-quarter report showed that the company knows how to skillfully manage Wall Street expectations, as it beat on both the top and bottom lines. It helps that MU is a highly efficient organization and remains committed to investing wisely in its research and development.There are also powerful secular trends that continue to fuel demand for memory chips. These include artificial intelligence, the internet of things, virtual reality, augmented reality and yes, 5G.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn fact, some investors believe that because of this MU stock is not as cyclical anymore. If so, this would definitely be great news. And the shares actually should have a much higher valuation.So does this mean there is an all-clear to buy MU stock? Well, not necessarily. Note that there remain several countervailing trends that are weighing on the company. The most obvious is the U.S.-China trade war. Note that about 55% of overall sales for MU come from China (this is for fiscal 2018). So even a small change could have a big impact on the company.Another issue is that about 13% of its revenues come from China's Huawei. This company has become a punching bag for President Donald Trump's administration. Recent headlines include the arrest of the founder's daughter in Canada for her alleged violations of sanctions. There is some buzz that Huawei may even collapse.Granted, this may be a worst-case scenario. Yet MU's heavy reliance on the company's sales is a big risk factor. Long-Term Impact From the Trade WarPerhaps the U.S. and China will somehow come to an agreement (although, given the deep issues and mistrust, this does look unlikely in the near term). But this may not matter too much. The reason is that going forward there is likely to be a realignment of the global supply chain. In other words, companies will look for alternatives to companies like MU, say rivals such as Samsung (OTCMKTS:SSNLF) or SK Hynix. * 7 Tech Industry Dividend Stocks for Growth and Income In the meantime, China is investing heavily in its domestic chip sector so as to lesson its dependence on U.S. suppliers. Take a look at Changxin Memory. The company plans to invest a hefty $8 billion in developing its dynamic random-access memory infrastructure.All in all, there could be long-term damage to MU as it will be increasingly shut out of the valuable Chinese market. The Bottom Line On MU StockThe swirling issues regarding trade policies appear to be taking a toll on the global economy. China has been slowing down and it looks like Germany is entering a recession. And yes, there are signs that the U.S. is not immune either, as sectors like real estate and manufacturing have come under pressure. Given all this, it seems reasonable that there will be a reduction in demand for memory chips.To get a sense of what this may mean for MU stock, consider what happened between 2013-2016. The stock plunged $35 to below $10 as the market for memory chips softened.Yet this time around, things may be worse as the level of uncertainty is elevated because of the trade war. So even though MU does have a solid balance sheet and a strong market position, it may not be enough in the months ahead.Tom Taulli is the author of the book, Artificial Intelligence Basics: A Non-Technical Introduction. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Tech Industry Dividend Stocks for Growth and Income * 7 Stocks the Insiders Are Buying on Sale * 7 of the Worst Stocks on Wall Street The post The Bull Case Looks Dicey for Micron Stock appeared first on InvestorPlace.
Micron Technology (NASDAQ:MU) stock has been on quite a ride lately. The volatility in the stock price seems to be showcasing a short-term battle between the bulls and the bears.Source: Charles Knowles / Shutterstock.com On the one hand, the bulls see MU as one of the top semiconductor companies with a rock-solid financial balance sheet. Their argument is that Micron should be able to weather any ups and downs in what is a very cyclical industry. On the other hand, the bears are anxiously looking to China and see no quick end to the trade war with the United States. Since 57% of Micron's sales were from China in 2018, this is not a concern that should be easily dismissed. * 7 "Boring" Stocks With Exciting Prospects Micron suspended chip shipments to Huawei in May of this year. Huawei accounted for 13% of its revenue in the first two quarters of its fiscal year which ends on Aug. 30. What started out as a trade war has morphed into a tech war. Investors are growing concerned that some Chinese companies may look to their Korean rivals such as Samsung (OTCMKTS:SSNLF) or SK Hynix (OTCMKTS:HXSCL) for their DRAM and NAND chips.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe semiconductor industry is one of the most volatile, and predictive, sectors in the market. Making long-term decisions on near-term performance is always a fool's errand. Having said that, I like Micron stock in the long term, but I don't like it as much in the rest of 2019. What I Like About Micron StockMicron is going to be on the forefront of developing chips that will support 5G applications. This new technology will be rolling out for a new generation of mobile phones, including foldable phones. And this technology will place a growing demand for high-capacity memory and storage that is being driven by data-intensive mobile applications. The demand for Micron's chips for the 5G market will also include machine-to-machine communication (IoT). What I Don't Like About MU Stock5G is a good news, bad news story. A concern I have with Micron is that the smartphones and other 5G-enabled devices are not set to launch until next year. Apple (NASDAQ:AAPL), for one, has said iPhone demand is down as customers wait for the new 5G phones to roll out. This means we won't know until next year whether there will be acceptance of these new devices.This may seem like a silly concern, but these phones will be sold at premium prices just as the economy may be teetering into a recession. There's no guarantee that someone with a two-year-old smartphone will reflexively upgrade to a new device, even if it does promise the benefit of 5G technology. What Does the Future Hold for Micron Stock?I enjoy riding roller coasters when I'm at an amusement park. However, I prefer my investments to have a little less volatility. In late June, Micron stock plunged after a poor earnings report that showed a supply glut due in large part to the ongoing trade war with China. Just a month later, the stock went roaring up on news that chip shipments were increasing more than expected.The problem for me is that there's a lot of emotion and noise tied up in MU stock at the moment. Investors are looking for any reason to buy or sell the stock. That environment can be conducive to traders, but it's not as good for investors. The company itself seems to be agreeing with this stance as management has been cutting capital expenditures for 2019 and 2020 and putting nearly $3 billion of cash into share buybacks.As of this writing, Chris Markoch did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy on the Dip * 7 Marijuana Stocks With Critical Levels to Watch * 7 Internet of Things Stocks to Buy Now The post Is Micron Stock Worth the Ride? appeared first on InvestorPlace.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Huawei Technologies Co.’s founder Ren Zhengfei warned in an internal memo the company is at a “live or die moment” and advised underutilized employees to form “commando squads” to explore new projects. Workers who fail will have their salaries cut every few months and may lose their jobs, the billionaire said yesterday.Since May, Huawei has occupied the uncomfortable position of being both an established global technology brand and a member of the United States Entity List, which bars it from trading with American suppliers. Despite a series of 90-day reprieves, the latest of which came yesterday, the uncertainty caused by American sanctions has already cost the company a great deal. Even if Huawei is eventually brought in from the cold, the impact of this summer’s upheaval will be widespread and painful.The most immediate of Huawei’s losses is the international smartphone market. The company’s internal estimates show it expects to sell 60 million fewer phones in 2019 than it would have done without the U.S. impositions. In 2018, Huawei grew its mobile shipments by 34% to 206 million, according to IDC data, and in the first quarter of 2019 its pace accelerated to a 50% improvement while rivals Samsung Electronics Co. and Apple Inc. both saw shrinking sales. By the second quarter, partially affected by U.S. sanctions, Huawei’s growth had been slashed to 8.3%.Having successfully penetrated the European mobile market, Huawei was on a path to becoming the world’s biggest phone vendor, however the loss of Google’s Android, the brains inside its handsets, and the related Play Store app ecosystem made Huawei devices undesirable outside of China.Ren warned in his memo that redundant staff need to find a way to make themselves useful.“They either form a ‘commando squad’ to explore new projects -- in which case they could be promoted to company commander if they do well,” he wrote. “Or they can find jobs in the internal market. If they fail to find a role, their salaries will be cut every three months.”Read more: Huawei’s Founder Wants an ‘Invincible Iron Army’ to Fight U.S.The consumer division is, according to Huawei itself, its growth engine. Accounting for 45% of its revenue last year, the business that sells phones and other gadgets is instrumental to Huawei’s future health, and it’s taken a substantial reputation blow from all the allegations and sanctions levied against Huawei. That won’t be repaired anytime soon.On the same front is Huawei’s loss of software engineering time as it’s had to scramble to create a potential Android substitute. In the wake of the U.S. ban, the company switched to 24-hour days, working as many as 10,000 developers across three shifts and three offices to eliminate the need for American software and circuitry. Huawei ended up hurrying its HarmonyOS out this month, just to demonstrate it can code its own operating system, though it convinced very few people that it has anything approaching an Android alternative waiting in the wings.Less quantifiable but still significant will be the talent drain that Huawei suffers from the tarnishing of its global reputation and the overwork that’s resulted from its efforts to recover. The company has downsized its workforce in response to its new circumstances.Ren wrote that the company’s priorities are for employees to make “meritorious deeds” and for management “to promote outstanding employees as soon as possible and infuse new blood to our organization.”In explaining the fresh extension to Huawei’s reprieve from U.S. sanctions, Commerce Secretary Wilbur Ross said that some American telecoms are “dependent” on Huawei tech and need time to wean themselves off it. So while the Washington authorities are giving Huawei a little more breathing room, the company’s situation is still very much precarious, as its founder has indicated.Without the U.S. trade intervention, Huawei would be threatening Samsung for the crown of the world’s most prolific smartphone vendor and it would be capitalizing on its lead in 5G technology instead of counting the cost of lost customers. The company remains in a strong position, but the dynamism of its growth and the luster of its cutting-edge technology have both been diminished by the measures taken by the American government.To contact the reporters on this story: Vlad Savov in Tokyo at email@example.com;Gao Yuan in Beijing at firstname.lastname@example.orgTo contact the editors responsible for this story: Edwin Chan at email@example.com, Peter Elstrom, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A new report from the Wall Street Journal says that Samsung is preparing to launch a variant of its Galaxy Note 10, that will come with block chain apps and a cryptocurrency wallet pre-installed. The device will be dubbed the Klaytn-phone and will start at around $1,000.