[ANALYSIS] Samsung facing mounting tasks following US investment

Asia's Tech News Daily

[ANALYSIS] Samsung facing mounting tasks following US investment

Samsung Electronics Vice Chairman Lee Jae-yong answers reporters’ questions at the Seoul Gimpo Business Aviation Center, Wednesday. He arrived in Seoul after a four-day trip to the U.S., during which Samsung’s decision to build a foundry plant in Taylor, Texas, was unveiled. Korea Times photo by Shim Hyun-chul

Lee’s remark ‘sober reality’ to indicate tech giant has much to work on

By Kim Bo-eun

Samsung chief Lee Jae-yong’s first trip to the U.S. in five years was meaningful in some ways. He met with White House officials to discuss Samsung’s role in addressing supply chain problems. Samsung also finally announced its selection of Taylor, Texas, as the site for its upcoming $17 billion foundry plant.

But his first remarks after returning to Seoul, Wednesday, addressed the “sober reality” he witnessed and acknowledged while meeting with chief executives of Samsung’s key U.S. clients.

During his trip, Lee held a series of meetings with Google CEO Sundar Pichai, Microsoft CEO Satya Nadella, as well as Verizon CEO Hans Vestberg and Moderna co-founder and board chairman Noubar Afeyan.

“I feel burdened after witnessing the sober reality of the market and hearing the voices of people working on-site,” Lee said at the Seoul Gimpo Business Aviation Center.

The Samsung vice chairman didn’t elaborate, but his remarks are widely seen as indicating Korea’s top conglomerate has much work to do to stay competitive.

“While holding meetings with top executives of leading U.S. firms, he would have realized Samsung’s shortcomings and felt a dire need for the company to do step up its game,” an industry official said.

Samsung, the world’s top memory chipmaker, is now seeking to narrow the market gap with Taiwan’s TSMC in non-memory chips. It is seeking to boost its capacity to contract manufacture information-processing non-memory chips amid the growing demand for components that form parts of the metaverse, AI and driverless vehicles.

Samsung is hoping that its Taylor plant, which will be operational by 2024, will lay a solid ground to catch up with TSMC in the foundry competition. TSMC accounts for more than half of the market, followed by Samsung with a 17 percent market share.

But now Samsung’s vision is not simply chasing its competitor by closing the gap. The company is seeking to take the lead in technological trends in the era of the Fourth Industrial Revolution. While Samsung is also the world’s top smartphone firm, it’s been losing its luster despite its ambitious unveiling of foldable mobile devices.

The company is a pioneer in premium phones experimenting with different forms, but market views are that Samsung’s reign will not last, given its competitors are catching up quickly.

Samsung is tasked with coming up with the next big item, given the global market for smartphones has become saturated.

Corporate acquisitions are a key strategy for companies to stay competitive. Samsung has stated plans for possible acquisitions in future growth sectors, which now appears necessary to be able to sharpen its business sword.

“If Samsung wishes to become the leading non-memory chip maker, it needs to secure premium talent in the chip sector,” said Yu Hyun-yong, a professor of semiconductor engineering at Korea University who previously worked for Intel.

“This is not just about securing talent in Korea. Samsung is already a global company. If it truly wishes to make the next leap, it needs an influx of talented foreign professionals, not just to work for Samsung’s overseas operations, but also here in Korea.”

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

10 Google search tricks to help you find what you're looking for

How often do you turn to Google? Every day? Multiple times a day? If you’re focused on privacy, there are better options. Tap or click for alternatives to Google that ... Read more »

Molly Russell coroner challenges social media firms to help make internet safer

The coroner overseeing the inquest of schoolgirl Molly Russell has challenged social media companies to help “make the internet a safer place”. Andrew Walker made the remark during a hearing ... Read more »

Supermarket SPAR forced to close stores due to cyber attack

Image: SPAR has been forced to close stores following a cyber attack,. Pic: Reuters The supermarket chain SPAR has been forced to close a number of stores following a cyber ... Read more »

WhatsApp launches incubator program for organisations to build healthcare solutions

WhatsApp on Monday announced an incubator program to support organisations in building digital solutions to tackle pressing healthcare issues. The ‘WhatsApp Incubator Program‘ aims to facilitate positive and measurable health ... Read more »

Citi announces grants for Indian startups: Key details

American lender Citi on Monday said it will be giving a grant to Indian startups for scaling up activities having a positive societal impact in the agriculture, healthcare and financial ... Read more »

Chewing gum to cut Covid-19 transmission under development: Report

Scientists are developing a chewing gum laced with a plant-grown protein that serves as a “trap” for the SARS-CoV-2 virus, which causes COVID-19, reducing viral load in saliva and potentially ... Read more »

Walmart's new Nintendo Switch bundle is now available – but it won't last long

Black Friday and Cyber Monday may have come and gone, but a new Nintendo Switch bundle is now available at Walmart that includes a 12-month subscription to Nintendo Switch Online ... Read more »

Floods are going to get worse: we need to start preparing for them now

Floods across the world this year cost hundreds of lives and millions of pounds in damages. Brian Norcross/FreeImagesLive, CC BY-SA For many, 2021 was the year of the flood. From ... Read more »

'Absolutely love it!': These photo printers make the perfect holiday gift—and they're on sale at Amazon today

We may receive commission from purchases made via links on this page. Pricing and availability are subject to change. Save up to 23 percent off photo printers. (Photo: Amazon) Finding ... Read more »

Intel Core i3-12100 could blow away AMD to be the new champion of budget CPUs

Intel’s Core i3-12100 could be a storming budget CPU, at least if the latest leak around incoming Alder Lake silicon is on the money. This comes from Hong Kong-based tech ... Read more »

Best backup software of 2022

The best backup software helps you reliably backup your saved files and folders, as well as provide advanced options to better manage your saved data. Whether you’re a business or ... Read more »

This top-rated robot vacuum is on sale for just $136 on Amazon Canada

Looking for more gift guides and holiday tips? Sign up for Yahoo Lifestyle Canada’s newsletter! Amazon’s top-rated robot vacuum is currently on sale for more than 20 per cent off. ... Read more »

BitMart crypto exchange hit with $150m hack

Crypto exchange BitMart has suffered a security breach which saw the attackers make off with roughly $150 million in different cryptocurrencies, the company’s leadership has confirmed. Taking to Twitter, BitMart ... Read more »

Covid: Sajid Javid to deliver Commons update on Omicron this afternoon

Sajid Javid will give an update in the House of Commons (PA Media) Health secretary Sajid Javid will update MPs on the latest Covid developments in a statement to the ... Read more »

WhatsApp expands disappearing messages tool

WhatsApp users are being given the option to turn on disappearing messages by default when they start a new chat, the messaging platform has said. The update will also see ... Read more »

EV maker Lucid crashes after disclosing SEC subpoena

SILVER SPRING, Md. — Shares in the electric vehicle startup Lucid Group tumbled Monday after saying that said it had been subpoenaed by government regulators, apparently over the process by ... Read more »

Report says Russian hackers haven't eased spying efforts

FILE – The Kremlin in Moscow, Sept. 29, 2017. The elite Russian state hackers behind last year’s massive SolarWinds cyberespionage campaign hardly eased up this year, managing plenty of infiltrations ... Read more »

Acer launches Predator Helios 500 with 120Hz 4K mini LED display, Intel 11th-gen i9 processor and GeForce RTX 3080: Price, features and more

Acer has launched its Predator Helios 500 laptop in India. This laptop sports an 11-gen Intel Core i9 processor and has a mini-LED display that supports 120Hz refresh rate. It ... Read more »

Carbon capture and storage: where should the world store CO₂? It's a moral dilemma

The recent Glasgow climate pact committed 197 countries to “phas[ing] down unabated coal”. Unabated coal refers to when power stations or factories burn coal without capturing and storing the carbon ... Read more »

EV maker Lucid subpoenaed by SEC over SPAC merger

SILVER SPRING, Md. (AP) — Shares in the electric vehicle startup Lucid Group tumbled Monday after saying that said it had been subpoenaed by government regulators, apparently over the process ... Read more »

The best Amazon Kindle deal of all time is happening right now: Save $35 and get a 3-month Kindle Unlimited subscription

We may receive commission from purchases made via links on this page. Pricing and availability are subject to change. It was a dark and stormy night. I picked up my ... Read more »

Acer Predator Helios 500 (PH517-52) launched in India with Intel Core i9 CPU, RTX 3080 GPU, 120Hz 4K Mini LED Display

The Acer Predator Helios 500 (PH517-52) has officially been unveiled in India. The Predator Helios 500 is a top-end gaming laptop that arrives with an 11th Gen Intel processor, and ... Read more »

Mother luckily escapes injury as baby's cry brings her out of kitchen seconds before explosion

A mother luckily escaped death as her baby's cry brought her out of the kitchen seconds before an explosion in southern China. Video shot in the city of Zhanjiang in ... Read more »

Why Microsoft avoided antitrust scrutiny that plagued other tech giants in 2021

The Big Tech reckoning gained momentum in 2021, as U.S. regulators accused behemoths like Google and Facebook of abusing their market power to gain an illegal edge over competitors. But ... Read more »

10-year-old fidget toy maker set to retire by age 15

10-year-old fidget toy maker set to retire by age 15 A 10-year-old entrepreneur from Australia – who has a toy and hair accessory empire – is set to retire by ... Read more »

Microsoft is Yahoo Finance's Company of the Year 2021

Microsoft (MSFT) has had a stunning year. After nearly 50 years in business, the tech giant crashed through the $2 trillion market capitalization mark in June, joining an exclusive club ... Read more »

Coronation Street's Roy Cropper actor to make a Christmas comeback

David Neilson playing Roy Cropper in Coronation Street credit:Bang Showbiz David Neilson is set to return as Roy Cropper in a dramatic Christmas 'Coronation Street' comeback just weeks after exiting ... Read more »

Amanda Owen makes very candid comment about family 'difficulties' in new interview

Our Yorkshire Farm star Amanda Owen has opened up about facing “difficult moments” in a new interview with Lorraine Kelly. MORE: Amanda Owen's fans jump to her defence after she ... Read more »

Reintroducing masks in England may be met with resistance – here's how the government can overcome it

Richard M Lee/Shutterstock There are fears that the new omicron variant of the coronavirus could be the most transmissible form of the virus yet, so infection control measures are being ... Read more »

This new Toshiba 4K TV is the first Amazon Fire TV to feature local dimming

Toshiba has announced its latest 4K flagship, the M550KU Fire TV, which the company says will the first Amazon Fire TV to feature local dimming, with up to 48 dimmable ... Read more »

US military officially confirms action against ransomware groups

Tackling ransomware operators in the US is no longer just a job for the police, but the military and national intelligence officers and spies, government officials have revealed. Speaking to ... Read more »

How to 'force restart' your phone: Talking Tech podcast

Hit play on the player above to hear the podcast and follow along with the transcript below.This transcript was automatically generated, and then edited for clarity in its current form. ... Read more »

[Exclusive] Future K2 tanks could run on homegrown transmission

K2 Black Panther main battle tank (Hyundai Rotem) The next batch of South Korea’s K2 Black Panther main battle tanks are expected to run on an locally-made transmission system instead ... Read more »

Realme 9i key specifications detailed; Could feature 90Hz Display, Snapdragon 680 SoC

The Realme 9 series is slated to drop in January 2022. We previously reported that the company will introduce at least four smartphones in the Realme 9 line-up. Now, one ... Read more »

Microsoft 365 is seriously late to the party with this important hybrid working feature

Avoiding embarrassing meeting snafus could soon be a lot easier thanks to a long-awaited new update from Microsoft 365. The software suite has revealed that users will finally be able ... Read more »

Cryptocurrency: Hackers steal $150m from platform BitMart after 'large-scale security breach', company says

The company has suspended withdrawals following the breach. Read more »

These Are The Last Christmas Posting Dates For 2021

(Photo: Sergio Amiti via Getty Images) The festive lights have been turned on and the mince pies are out in full force, which means one thing: it’s time to send ... Read more »

Euro 2020 and sea shanties among TikTok's highlights of the year

Cats, sea shanties and Euro 2020 were among the biggest trends on TikTok in the UK during 2021, according to figures from the video-sharing platform. The social media giant’s annual ... Read more »

Looking for a holiday gift? The new Nintendo Switch is 'worth the upgrade' — plus more hot tech finds from Best Buy

Looking for more of the best deals, sales and product recommendations? Sign up for Yahoo Lifestyle Canada’s newsletter! Shoppers say the Nintendo Switch OLED Model is “worth the upgrade.” Yahoo ... Read more »

D-Link R15 Eagle Pro AI AX1500 router launched in India

D-Link has launched its all-new R15 Eagle Pro AI AX1500 smart router in India. The company has priced the router at Rs 3,299 in the country and it is available ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic