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Tag: Samsung Electronics (page 1 of 1)

Samsung adopts in-house developed ERP system for better efficiency, decision making

Samsung has adopted a new in-house developed ERP system to improve efficiency and productivity. The new system called N-ERP was developed in 2.5 years and was tested in China and Southeast Asian countries. It will roled in all overseas branches by Jan 2022. N-ERP brings the latest solutions in massive data processing to provide real-time analysis of the supply chain and more accurate simulation models for better decision making.

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Samsung Chairman Lee Kun-hee dies at 78, succession battle may follow

Samsung Group Chairman Lee Kun-hee (78), who built the South Korean firm into a global powerhouse, died on Sunday. The country’s richest man had been vilified for his economic clout, opaque governance and dubious transfers of the family wealth. Lee was a second-gen leader, and may have left a potential thorny succession battle for the third. He owned 20.76% of the insurance firm and 4.18% of Samsung Electronics, as the biggest individual shareholder.

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Rival SK Hynix to buy Intel’s NAND business for $9 bn

SK Hynix will acquire Intel’s NAND memory chip and storage business in a $9 bn deal which also includes laters manufacturing site in China. Intel will keep its “Optane” business of more advanced memory products. The deal will make SK Hynix the world’s second-largest provider of NAND flash memory chips after Samsung. Intel is moving towards more diverse tech while shedding operations in China amidst trade war between Washington and Beijing.

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Samsung expects big boost in third quarter

The slowdown in tech doesn’t appear to be weighing on Samsung as much as it has in the past. The company predicts its operating profit for the third quarter would come around $10.6B, an increase of 58% compared with the year-ago period. It also said its revenue increased by nearly 5% to $57B. The quarter represents a rebound of sorts for the Korean electronics giant, which in the year-ago period reported a 56% decline in operating profit.

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Samsung Display seeks licence to export to Huawei

Samsung’s display unit has reportedly applied for an export licence to continue supplying to Huawei Technologies ahead of U.S. export restrictions taking effect next week. The Trump administration had barred American and non-American firms from supplying components built using American technology/software to Huawei. If any firm was still interested in selling, it will have to seek a special license.

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IBM taps Samsung for manufacturing its 7-nm based newest chips

IBM announced a new processor chip for data centres that will be able to handle 3 times the workload of its predecessor. The chip, similar to AMD, will use 7nm technology and will be manufactured by Samsung. Both IBM and AMD use outside chip factories to compete against Intel Corp, the leading provider of central processor chips in data centres. Intel has delayed the launch of its next-gen processor chips, enabling rivals to gain market share.

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Samsung expects COVID-19 will increase demand for memory

Samsung Electronics expects the hashtag COVID-19 will continue to have a negative impact on sales of smartphones and TVs. On a brighter side, it predicts that the pandemic will drive the demand of memory business as remote work, online education, online shopping and streaming entertainment services will increase demand for cloud services and data centres. The company will strengthen up its transition to 1Z-nm DRAM and 6th-generation V-NAND flash memory and focus on online stores.

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