A former executive at South Korea's Samsung Electronics, who hasn't been identified yet, was indicted on Monday (June 12) over claims and suspicion that he stole company technology for a copycat chip factory in China. The prosecutors said that the person is also accused of jeopardising national economic security.&nbsp;

South Korea is a chipmaking hub, but globally, the battle to produce more and more is raging. The chip industry competition was recently described by President Yoon Suk Yeol as an "all-out war", with massive pressure from the geopolitical and economic rivalry between the United States and China.&nbsp;

In a statement, the Suwon District Prosecutors' Office said that the defendant is accused of illegally acquiring Samsung data to build a rival factory only 1.5 kilometres away from a Samsung chip manufacturing facility in Xian, China.&nbsp;

The prosecutors mentioned that the executive also formerly worked at SK Hynix as a vice president and further estimated that the theft of data had caused at least $233 million worth of losses for Samsung Electronics.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/dutch-government-to-screen-foreign-phd-tech-students-denies-targeting-china-603576">Dutch government to screen foreign PhD tech students, denies targeting China</a>&nbsp;

The prosecutor's office said, "It's a grave crime that could deal a heavy blow to our economic security by shaking the foundation of the domestic chip industry at a time of intensifying competition in chip manufacturing."&nbsp;

As reported by the news agency Reuters, a prosecutor said that the defendant was arrested last month and is denying the allegations,&nbsp;adding&nbsp;that the suspect worked a combined 28 years at the South Korean chipmaker.&nbsp;

The news agency's report also mentioned a prosecutor as saying that attempt to build the new plant using Samsung data between 2018 and 2019 ended in failure due to funding issues.&nbsp;

Watch&nbsp;|&nbsp;NASA scientist admits that the Moon 'might already have life on it'&nbsp;

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Prosecutors said they had indicted six other people for their suspected involvement, including an inspection company employee accused of leaking the architectural plan of Samsung's semiconductor factory.&nbsp;

A report by GIZMOCHINA mentioned that both Samsung Electronics and SK Hynix are the world's top two memory chip manufacturers and have invested heavily in chip factories in China. The report also mentions that these companies rely on US technology and equipment, and approximately 40 per cent of South Korea's chip exports are directed to China.&nbsp;

(With inputs from agencies)

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A former executive at South Korea's Samsung Electronics, who hasn't been identified yet, was indicted on Monday (June 12) over claims and suspicion that he stole company technology for a copycat chip factory in China.

A former executive at South Korea's Samsung Electronics, who hasn't been identified yet, was indicted on Monday (June 12) over claims and suspicion that he stole company technology for a copycat chip factory in China. The prosecutors said that the person is also accused of jeopardising national economic security. South Korea is a chipmaking hub, but globally, the battle to produce more and more is raging. The chip industry competition was recently described by President Yoon Suk Yeol as an "all-out war", with massive pressure from the geopolitical and economic rivalry between the United States and China. In a statement, the Suwon District Prosecutors' Office said that the defendant is accused of illegally acquiring Samsung data to build a rival factory only 1.5 kilometres away from a Samsung chip manufacturing facility in Xian, China. The prosecutors mentioned that the executive also formerly worked at SK Hynix as a vice president and further estimated that the theft of data had caused at least $233 million worth of losses for Samsung Electronics. Also read | Dutch government to screen foreign PhD tech students, denies targeting China The prosecutor's office said, "It's a grave crime that could deal a heavy blow to our economic security by shaking the foundation of the domestic chip industry at a time of intensifying competition in chip manufacturing." As reported by the news agency Reuters, a prosecutor said that the defendant was arrested last month and is denying the allegations, adding that the suspect worked a combined 28 years at the South Korean chipmaker. The news agency's report also mentioned a prosecutor as saying that attempt to build the new plant using Samsung data between 2018 and 2019 ended in failure due to funding issues. Watch | NASA scientist admits that the Moon 'might already have life on it' × Also read | Can you trust your ears? AI voice scams rattle US Prosecutors said they had indicted six other people for their suspected involvement, including an inspection company employee accused of leaking the architectural plan of Samsung's semiconductor factory. A report by GIZMOCHINA mentioned that both Samsung Electronics and SK Hynix are the world's top two memory chip manufacturers and have invested heavily in chip factories in China. The report also mentions that these companies rely on US technology and equipment, and approximately 40 per cent of South Korea's chip exports are directed to China. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Former Samsung Electronics executive accused of stealing secrets for China chip factory

If you are planning to buy a mid-range phone, there is a new contender in the market. We are talking about Samsung's brand-new Galaxy F54. Watch this story to know more about the smartphone.

Samsung Galaxy F54: Should you buy it?

Samsung, the global technology giant, is bracing for its worst profit in 14 years as the prices for memory chips, its main business, continue to plummet and demand remains weak.&nbsp;

Earlier this month, the South Korean company projected an operating profit of 600 billion Korean won ($449 million) for the first quarter (January to March), its lowest since the first quarter of 2009.

According to data from the International Data Corporation (IDC), PC shipments witnessed a steep 29 percent year-on-year decline in the first quarter, reflecting the downturn in the consumer electronics market. This downturn has led to a drop in the prices of memory chips over the past few months, exacerbated by high inventories and lackluster demand.

"The memory market is currently going through one of the worst slumps in decades, with slowdowns in consumer electronics and traditional server markets, despite the growth in the electric vehicle (EV) segment," noted CrispIdea in a recent research note quoted by CNBC.

As the COVID-19 pandemic peaked, demand for consumer electronics surged as people stayed home and relied on technology for work and entertainment. Electronics companies, including Samsung, stocked up on memory chips to meet the increased demand.&nbsp;

However, the situation has changed drastically now, as buyers are cutting back on purchases due to inflation and broader macroeconomic concerns, resulting in a glut of memory chips in the market.

Analysts at Mirae Asset Securities estimate that Samsung's chip division could incur a loss of 4.4 trillion Korean won in the first quarter alone.&nbsp;

In response to the challenging market conditions, Samsung announced a cut in production of its memory chips to a "meaningful level" this month, reversing its earlier stance of maintaining output levels. This move follows the footsteps of rivals SK Hynix and Micron, who had also reduced production to address the weakening demand.

Samsung, which has been a key player in the global technology industry for years, is facing formidable challenges in the memory chip market due to the rapidly changing economic landscape.

The company's ability to navigate through these difficult times and adapt to the evolving market dynamics will be closely watched by investors and industry experts alike as it seeks to regain its profitability and market share in the highly competitive industry.

Samsung, the global technology giant, is bracing for its worst profit in 14 years as the prices for memory chips, its main business, continue to plummet and demand remains weak.

Samsung, the global technology giant, is bracing for its worst profit in 14 years as the prices for memory chips, its main business, continue to plummet and demand remains weak. Earlier this month, the South Korean company projected an operating profit of 600 billion Korean won ($449 million) for the first quarter (January to March), its lowest since the first quarter of 2009. According to data from the International Data Corporation (IDC), PC shipments witnessed a steep 29 percent year-on-year decline in the first quarter, reflecting the downturn in the consumer electronics market. This downturn has led to a drop in the prices of memory chips over the past few months, exacerbated by high inventories and lackluster demand. "The memory market is currently going through one of the worst slumps in decades, with slowdowns in consumer electronics and traditional server markets, despite the growth in the electric vehicle (EV) segment," noted CrispIdea in a recent research note quoted by CNBC. As the COVID-19 pandemic peaked, demand for consumer electronics surged as people stayed home and relied on technology for work and entertainment. Electronics companies, including Samsung, stocked up on memory chips to meet the increased demand. However, the situation has changed drastically now, as buyers are cutting back on purchases due to inflation and broader macroeconomic concerns, resulting in a glut of memory chips in the market. Analysts at Mirae Asset Securities estimate that Samsung's chip division could incur a loss of 4.4 trillion Korean won in the first quarter alone. In response to the challenging market conditions, Samsung announced a cut in production of its memory chips to a "meaningful level" this month, reversing its earlier stance of maintaining output levels. This move follows the footsteps of rivals SK Hynix and Micron, who had also reduced production to address the weakening demand. Samsung, which has been a key player in the global technology industry for years, is facing formidable challenges in the memory chip market due to the rapidly changing economic landscape. The company's ability to navigate through these difficult times and adapt to the evolving market dynamics will be closely watched by investors and industry experts alike as it seeks to regain its profitability and market share in the highly competitive industry.

Samsung's profits plunge as memory chip prices slump, demand wanes

The slowdown in consumer electronics purchases and a global microprocessor glut, which hurt Samsung Electronics' main memory business, were cited as reasons for the company's worst quarterly profits in 14 years on Thursday. In a statement, the South Korean firm, which is among the biggest manufacturers of memory chips and cellphones worldwide, reported a 95 percent decrease in operating profit to 640 billion won ($478.6 million).

Glut in memory chip market hits profits, affect Samaung sales

It's not looking good for Samsung as the company is expected to report dismal earnings this quarter. With memory chip prices plummeting and demand for consumer electronics slowing down, Samsung's profits are projected to hit a 14-year low.

Samsung's profit set to plunge

Samsung is considering ditching Google’s Chrome browser for Microsoft’s Bing. The news left Alphabet in shock, whose shares slumped 2.5 per cent Monday. On the flip side, Microsoft’s shares surged by 1 per cent. Many think it’s Bing’s successful AI chatbot experiment which has led Samsung to rethink its partnership with Google.

<h2>Why is Samsung ditching Google?</h2>

The South Korean mobile phone company has long been cosying up to Microsoft. Microsoft’s Office apps are pre-installed in Samsung phones. Also, Samsung allows users to easily connect with MS Windows.&nbsp; 
It’s true that Microsoft’s Bing has languished behind Google for most of the time, but the launch of its AI chatbot has triggered an uptick in its usage.

When it comes to AI-powered web browser regime, OpenAI-backed Bing’s chatbot seems to have taken the lead. Meanwhile, Google is still recovering from the gaffe that Google’s own AI chatbot Bard committed on the very first day of its demonstration.

Also Read |&nbsp;<a href="https://www.wionews.com/business-economy/googles-shared-dip-after-ai-chatbot-bard-flubs-answer-in-new-ad-heres-what-happened-560132">$100 bn wiped off Alphabet's shares after Google AI chatbot 'Bard' flubs answer</a>

<h2>How will this affect Google?</h2>

Google pays billions annually to mobile phone manufacturers to serve as their default search engine. For instance, it pays a whopping $20 billion annually to Apple. Thanks to such efforts, Google has today acquired a 90 per cent share of the search market. This gives Google the ability to monetise its massive user base and earn billions in revenue through targeted advertising.

Watch: Google releases bard program for collaboration with AI

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As per the Times, the deal between Google and Samsung might not be renewed, which will see the latter shifting to Microsoft’s Bing. However, it’s not clear if Microsoft will pay Samsung more than Google for serving as the default browser. According to Apple Insider, Google currently pays $3 billion annually to Samsung.

<h2>Is AI a threat to Google’s search business?</h2>

ChatGPT and other AI-powered services pose a danger to Google's search engine business. Although ChatGPT can produce factually wrong results, it can offer direct results to users rather than forcing them to go through hundreds of search results scattered with advertisements as Google does.

As a result, Google is pushing for additional AI features to be made accessible to the general public, such as a search engine driven by AI that competes with Microsoft Bing. This project is known as "Project Magi." The current search engine's plans are still in the early stages, and there is no specific release date for the new search technology.

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Samsung is considering ditching Google’s Chrome browser for Microsoft’s Bing. The news left Alphabet in shock, whose shares slumped 2.5 per cent Monday. On the flip side, Microsoft’s shares surged by 1 per cent.

Samsung is considering ditching Google’s Chrome browser for Microsoft’s Bing. The news left Alphabet in shock, whose shares slumped 2.5 per cent Monday. On the flip side, Microsoft’s shares surged by 1 per cent. Many think it’s Bing’s successful AI chatbot experiment which has led Samsung to rethink its partnership with Google. Why is Samsung ditching Google? The South Korean mobile phone company has long been cosying up to Microsoft. Microsoft’s Office apps are pre-installed in Samsung phones. Also, Samsung allows users to easily connect with MS Windows. It’s true that Microsoft’s Bing has languished behind Google for most of the time, but the launch of its AI chatbot has triggered an uptick in its usage. When it comes to AI-powered web browser regime, OpenAI-backed Bing’s chatbot seems to have taken the lead. Meanwhile, Google is still recovering from the gaffe that Google’s own AI chatbot Bard committed on the very first day of its demonstration. Also Read | $100 bn wiped off Alphabet's shares after Google AI chatbot 'Bard' flubs answer How will this affect Google? Google pays billions annually to mobile phone manufacturers to serve as their default search engine. For instance, it pays a whopping $20 billion annually to Apple. Thanks to such efforts, Google has today acquired a 90 per cent share of the search market. This gives Google the ability to monetise its massive user base and earn billions in revenue through targeted advertising. Watch: Google releases bard program for collaboration with AI × As per the Times, the deal between Google and Samsung might not be renewed, which will see the latter shifting to Microsoft’s Bing. However, it’s not clear if Microsoft will pay Samsung more than Google for serving as the default browser. According to Apple Insider, Google currently pays $3 billion annually to Samsung. Is AI a threat to Google’s search business? ChatGPT and other AI-powered services pose a danger to Google's search engine business. Although ChatGPT can produce factually wrong results, it can offer direct results to users rather than forcing them to go through hundreds of search results scattered with advertisements as Google does. As a result, Google is pushing for additional AI features to be made accessible to the general public, such as a search engine driven by AI that competes with Microsoft Bing. This project is known as "Project Magi." The current search engine's plans are still in the early stages, and there is no specific release date for the new search technology. WATCH WION LIVE HERE ×

Google in shock as Samsung considers ditching Chrome for Microsoft Bing

Samsung, one of the biggest electronics brands in the world, is now struggling to handle its chip production arm as its shares plunge by 96%.

The Korean giant is sitting on huge inventories after a build-up to meet the expected pent-up demand post-COVID did not materialise.

Samsung's initial thoughts on its performance in the last quarter are gloomy.

In response, the company is now set to make "meaningful cuts" driven by a slowdown in the global semiconductor market.

In a preliminary earnings statement, the world's largest memory chip and TV maker estimated that its operating profit fell to $455.5 million in January-March, marking the lowest profit for any quarter in 14 years. 
 
The company plans to cut the production of memory chips to tighten supply amid a huge pile of inventories.

The move is a strong signal from Samsung, which had previously said it would only make small adjustments like pauses for refurbishing production lines, but not a full-blown cut.

It did not disclose the size of the planned cut. The first-quarter profit fell short of a $733.3 million Refinitiv SmartEstimate, which was weighted towards more consistently accurate analysts.

With consumer demand for tech devices sluggish due to rising inflation, semiconductor buyers, including data centre operators and smartphone and personal computer makers, are refraining from new chip purchases and using up inventories.

Analysts estimate that the chip division sustained quarterly losses of more than $3.03 billion as memory chip prices fell and its inventory values were slashed.

This would be the chip business's first quarterly loss since the first quarter of 2009, a major divergence from what is normally a cash cow that generates about half of Samsung's profits in better years.

Despite the disappointing results, shares in Samsung rose 3% in early trading, while shares of rival SK Hynix surged 5% as investors welcomed plans to cut production to help preserve pricing power.

Samsung is set to release detailed earnings, including divisional breakdowns, later this month.

Samsung, one of the biggest electronics brands in the world, is now struggling to handle its chip production arm as its shares plunge by 96%. The Korean giant is sitting on huge inventories after a build-up to meet the expected pent-up demand post-COVID did not materialise.

Samsung, one of the biggest electronics brands in the world, is now struggling to handle its chip production arm as its shares plunge by 96%. The Korean giant is sitting on huge inventories after a build-up to meet the expected pent-up demand post-COVID did not materialise. Samsung's initial thoughts on its performance in the last quarter are gloomy. In response, the company is now set to make "meaningful cuts" driven by a slowdown in the global semiconductor market. In a preliminary earnings statement, the world's largest memory chip and TV maker estimated that its operating profit fell to $455.5 million in January-March, marking the lowest profit for any quarter in 14 years. The company plans to cut the production of memory chips to tighten supply amid a huge pile of inventories. The move is a strong signal from Samsung, which had previously said it would only make small adjustments like pauses for refurbishing production lines, but not a full-blown cut. It did not disclose the size of the planned cut. The first-quarter profit fell short of a $733.3 million Refinitiv SmartEstimate, which was weighted towards more consistently accurate analysts. With consumer demand for tech devices sluggish due to rising inflation, semiconductor buyers, including data centre operators and smartphone and personal computer makers, are refraining from new chip purchases and using up inventories. Analysts estimate that the chip division sustained quarterly losses of more than $3.03 billion as memory chip prices fell and its inventory values were slashed. This would be the chip business's first quarterly loss since the first quarter of 2009, a major divergence from what is normally a cash cow that generates about half of Samsung's profits in better years. Despite the disappointing results, shares in Samsung rose 3% in early trading, while shares of rival SK Hynix surged 5% as investors welcomed plans to cut production to help preserve pricing power. Samsung is set to release detailed earnings, including divisional breakdowns, later this month.

Samsung to cut chip production after profits hit 14-year low

Due to a severe slump in the global semiconductor market, Samsung's quarterly operating profit fell by 96% to 455.5 million dollars, the lowest level in 14 years. The company plans to significantly reduce chip output.

Samsung announces 'meaningful' cut in chip production

Samsung Electronics is expected to report a 92 percent Plunge in its first quarter profit that will be the lowest for any quarter in 14 years for the world's biggest maker of memory chips TVs and smartphones the decline is due to a cheap glut resulting in lower memory chip prices and inventory value.

Samsung Q1 to mark WORST quarterly performance in 14 years

All the mobile devices that Samsung sells in the Indian market are now made in the company's Noida factory in Uttar Pradesh, which is regarded as the world's largest mobile phone factory, a Samsung official told WION. "We have all devices made in India, in Noida. The flagship 'Galaxy S23' and the 'Fold' phones are also made here, Akshay Gupta, General Manager, Mobile Business, Samsung India told WION. &nbsp;

Speaking of the year 2022-23, he said that the smartphone market had seen single-digit growth and that Samsung India was targeting double-digit growth for 2023-34. However, in terms of 5G mobile devices, he said that Samsung India has witnessed a doubling of its 5G mobile business in 2022, when compared to 2021. He attributed this to the gradual rollout of 5G mobile connectivity services in India from 2022-end.&nbsp;

Referring to the trends witnessed in the Indian smartphone market, he said that Indian customers are buying more high-end devices and prefer to get future-proof gadgets, particularly considering the 5G services being available. He also pointed out the sales spike that his firm had been witnessing in Tier 2 and Tier 3 cities. He says that they have been selling phones (on a 10-month EMI as part of a Samsung Finance Plus initiative) to people in Tier 2 and 3 cities, and small towns, even when the individuals did not have access to credit cards or loans.

As per Counterpoint Research India Smartphone Model Tracker Dec 2022, Samsung was the number one 5G smartphone manufacturer (by volume) in India in 2023. 
 
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All the mobile devices that Samsung sells in the Indian market are now made in the company's Noida factory in Uttar Pradesh, which is regarded as the world's largest mobile phone factory, a Samsung official told WION.

All the mobile devices that Samsung sells in the Indian market are now made in the company's Noida factory in Uttar Pradesh, which is regarded as the world's largest mobile phone factory, a Samsung official told WION. "We have all devices made in India, in Noida. The flagship 'Galaxy S23' and the 'Fold' phones are also made here, Akshay Gupta, General Manager, Mobile Business, Samsung India told WION. Speaking of the year 2022-23, he said that the smartphone market had seen single-digit growth and that Samsung India was targeting double-digit growth for 2023-34. However, in terms of 5G mobile devices, he said that Samsung India has witnessed a doubling of its 5G mobile business in 2022, when compared to 2021. He attributed this to the gradual rollout of 5G mobile connectivity services in India from 2022-end. Referring to the trends witnessed in the Indian smartphone market, he said that Indian customers are buying more high-end devices and prefer to get future-proof gadgets, particularly considering the 5G services being available. He also pointed out the sales spike that his firm had been witnessing in Tier 2 and Tier 3 cities. He says that they have been selling phones (on a 10-month EMI as part of a Samsung Finance Plus initiative) to people in Tier 2 and 3 cities, and small towns, even when the individuals did not have access to credit cards or loans. As per Counterpoint Research India Smartphone Model Tracker Dec 2022, Samsung was the number one 5G smartphone manufacturer (by volume) in India in 2023. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

All our mobiles sold in Indian market are made in India: Samsung official tells WION

Samsung Electronics Co Ltd convinced a Los Angeles federal jury that its Galaxy S10 phones do not violate the trademark rights of a talent-management agency that also uses the S1" name.

Samsung not guilty of trademark infringement

Google security teams have found 18 vulnerabilities in Samsung Exynos chips used in leading Android smartphones and wearables. According to the security team, these exploits put the devices at risk of a security breach.

Google security teams have found 18 vulnerabilities in Samsung Exynos chips used in leading Android smartphones and wearables. According to the security team, these exploits put the devices at risk of a security breach. Google security team's comments on dangerous vulnerabilities According to Google's Project Zero Head, Tim Wills, the four most dangerous vulnerabilities 'allow for internet-to-baseband remote code execution'. The tests run by Google security teams confirmed that the four vulnerabilities could allow an attacker to remotely compromise a phone at the baseband level without user interaction. They only require a victim's phone number to do so. Google security researchers commented on the vulnerabilties found in the Samsung devices. They said, "We believe that skilled attackers would be able to quickly create an operational exploit to compromise affected devices silently and remotely." "Until security updates are available, users who wish to protect themselves from the baseband remote code execution vulnerabilities in Samsung's Exynos chipsets can turn off Wi-Fi calling and Voice-over-LTE (VoLTE) in their device settings," said Willis. If users turn off these settings, it will remove the exploitation risk of these vulnerabilities, he added. List of affected devices by vulnerabilities in Samsung devices The affected mobile devices are from Samsung, Vivo, and Google (Pixel 6 and Pixel 7 series). Furthermore, any wearables with the Exynos W920 chipset and vehicles with the Exynos Auto T5123 chipset are among the 'devices at risk'. Google's affected pixel devices have received a fix. However, the patch timelines for other brands will vary per manufacturer. "As always, we encourage end users to update their devices as soon as possible, to ensure that they are running the latest builds that fix both disclosed and undisclosed security vulnerabilities," said Google. Based on the list of affected chipsets provided by Samsung, the list of affected devices includes but is likely not limited to: Mobile devices from Samsung, including those in the S22, M33, M13, M12, A71, A53, A33, A21, A13, A12 and A04 series; Mobile devices from Vivo, including those in the S16, S15, S6, X70, X60 and X30 series; The Pixel 6 and Pixel 7 series of devices from Google; Any wearables that use the Exynos W920 chipset; and Any vehicles that use the Exynos Auto T5123 chipset (With inputs from agencies) WATCH WION LIVE HERE

Google warns users about 18 vulnerabilities in Samsung Exynos chipsets: Here’s the list of affected devices

Xiaomi, the Chinese multinational electronics company, has been forced to overhaul its India strategy after underestimating Indian consumers' taste for premium mobile phones.

Xiaomi, the Chinese multinational electronics company, has been forced to overhaul its India strategy after underestimating Indian consumers' taste for premium mobile phones. The company's focus on selling budget phones under $120 left it unprepared for the "premiumisation" trend in India's fast-growing economy, allowing Samsung Electronics to take the lead in country's mobile phone market. Data from Hong Kong-based Counterpoint Research showed that Samsung had a 20 per cent market share for the last quarter of 2022, compared to Xiaomi's 18 per cent. The market share of sub-$120 phones in India fell to 26 per cent in 2022 from 41 per cent two years ago, while premium phones priced above $360 saw their share price double to 11 per cent in the same period. Xiaomi's struggle to meet changing consumer preferences in India highlights the risks for companies operating in a fast-growing economy with rising disposable incomes. Read more: Chinese smartphone maker Xiaomi shuts financial services business in India The trend towards more expensive mobile phones in India will also benefit social media app providers such as Meta and iPhone maker Apple Inc, which have a tiny market share in the country due to their focus on high-end phones. Xiaomi's response to the changing market is to revamp its product line-up to focus on premium smartphones. The company has launched the Redmi Note 12 and Xiaomi 13 Pro, both of which are priced above 30,000 rupees. The Redmi Note 12 has already clocked sales of $61 million within two weeks of its launch. Xiaomi has also tapped partnerships to offer loans, calling them a key growth driver for sales of phones priced above $183. Samsung's innovative financing schemes that made premium phones affordable to most played a significant part in its recent success in India, generating $1 billion in device sales last year. Xiaomi is also exploring more such offerings. Strategy Overhaul The overhaul of the brand’s strategy in India shows that companies have failed to cater to changing consumer preferences in a fast-growing economy with rising disposable incomes. The punishment to the income brackets of the country comes as a stretch to the nation. The company's focus on selling budget phones under $120 left it unprepared for the "premiumisation" trend in India's mobile phone market, allowing Samsung to take the lead. WATCH | Xiaomi reviews India strategy, misjudges consumer tastes in country | World Business Watch × Xiaomi's response is to revamp its product line-up to focus on premium smartphones and tap partnerships to offer loans, following Samsung's example. The Indian market's trend towards more expensive mobile phones will also benefit social media app providers such as Meta and iPhone maker Apple Inc, which have a tiny market share in the country due to their focus on high-end phones. WATCH WION LIVE HERE:

For India, Xiaomi overhauls its strategy on changing dynamics

The Indian government is working on a draft proposal that could force smartphone makers to remove apps which come pre-installed on new phones that cannot be deleted.

Moreover, the government is also considering imposing mandatory screening of every major operating system update before it is made available to consumers, Reuters reported citing a government document.

The new rules, once implemented, could lead to massive losses in business from pre-installed apps for major firms like Samsung, Xiaomi, Vivo, and Apple, and could delay the launch of smartphones in the country.

The move comes as the Information and Technology (IT) ministry has raised security concerns over spying and abuse of Indian users’ data, Reuters reported citing a government official.

"Pre-installed apps can be a weak security point and we want to ensure no foreign nations, including China, are exploiting it. It's a matter of national security," the official was quoted as saying.

<h2>Rishi Sunak hints at TikTok ban from UK government devices</h2>

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Presently, all smartphones come with pre-installed apps that cannot be deleted, such as Chinese smartphone maker Xiaomi's app store GetApps, Samsung's payment app Samsung Pay mini and iPhone maker Apple's browser Safari.

Under the proposed guilders, smartphone users would be given an uninstall option and new models will be checked for compliance by a lab authorized by the Bureau of Indian Standards agency, two people aware of the plan told Reuters.

"Majority of smartphones used in India are having pre-installed Apps/Bloatware which poses serious privacy/information security issue(s)," stated a February 8 confidential government record of an IT ministry meeting, seen by Reuters.

The confidential meeting was attended by representatives from Xiaomi, Samsung, Apple and Vivo, as per the meeting record.

The smartphone makers have been given one-year time to adhere to the rules once it comes into effect. As of now, no date has been fixed as to when it will be implemented, the document stated.

(With inputs from agencies)

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The Indian government is working on a draft proposal that could force smartphone makers to remove apps which come pre-installed on new phones that cannot be deleted.

The Indian government is working on a draft proposal that could force smartphone makers to remove apps which come pre-installed on new phones that cannot be deleted. Moreover, the government is also considering imposing mandatory screening of every major operating system update before it is made available to consumers, Reuters reported citing a government document. The new rules, once implemented, could lead to massive losses in business from pre-installed apps for major firms like Samsung, Xiaomi, Vivo, and Apple, and could delay the launch of smartphones in the country. The move comes as the Information and Technology (IT) ministry has raised security concerns over spying and abuse of Indian users’ data, Reuters reported citing a government official. "Pre-installed apps can be a weak security point and we want to ensure no foreign nations, including China, are exploiting it. It's a matter of national security," the official was quoted as saying. Rishi Sunak hints at TikTok ban from UK government devices Presently, all smartphones come with pre-installed apps that cannot be deleted, such as Chinese smartphone maker Xiaomi's app store GetApps, Samsung's payment app Samsung Pay mini and iPhone maker Apple's browser Safari. Under the proposed guilders, smartphone users would be given an uninstall option and new models will be checked for compliance by a lab authorized by the Bureau of Indian Standards agency, two people aware of the plan told Reuters. "Majority of smartphones used in India are having pre-installed Apps/Bloatware which poses serious privacy/information security issue(s)," stated a February 8 confidential government record of an IT ministry meeting, seen by Reuters. The confidential meeting was attended by representatives from Xiaomi, Samsung, Apple and Vivo, as per the meeting record. The smartphone makers have been given one-year time to adhere to the rules once it comes into effect. As of now, no date has been fixed as to when it will be implemented, the document stated. (With inputs from agencies) WATCH WION LIVE HERE

Indian govt may force smartphone makers to remove pre-installed apps: Report

Electrostatic Discharge (ESD) has been a major cause for concern in the computing chip industry, as it causes unexpected destruction of semiconductor devices. The ESD phenomenon is a high-current and short-duration event caused by the transfer of electrostatic charge between two surfaces or bodies. It can happen due to human handling of chips and even robotic handling of chips. It is to develop ESD protection that South Korean Electronics giant Samsung's semiconductor arm and the Indian Institute of Science have joined hands.&nbsp;

The partnership seeks to build cutting-edge ESD device solutions to protect ultra-high-speed serial interfaces in advanced Integrated Circuits (ICs) and system-on-chip (SoC) products. An integrated circuit refers to a circuit compressed into a small-sized chip, whereas a system-on-chip has computer-like capabilities and can run an operating system.&nbsp;The related research will be carried out by Professor&nbsp;Mayank Shrivastava’s group at the Department of Electronic Systems Engineering (DESE), IISc. Solutions arising from this research will be deployed in Samsung’s advanced process nodes, said the company.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/india-news/boeing-to-exhibit-apache-attack-helicopter-simulator-at-aero-india-2023-559612">Boeing to exhibit Apache attack helicopter simulator, at Aero India 2023</a>

The research agreement was exchanged by Balajee Sowrirajan, CVP &amp; MD at Samsung Semiconductor India Research, Bengaluru, and Prof Govindan Rangarajan, Director, Indian Institute of Science (IISc), in the presence of delegates from Samsung and IISc. "Our goal is also to increase capacity building through training programmes at the postgraduate level, opening up opportunities for students to pursue industry internships, and encourage entrepreneurial ventures by young researchers,"&nbsp;said Balajee Sowrirajan, CVP &amp; MD, SSIR.

ICs and SoCs are essential for any electronic system, large or small. However,&nbsp;they are very susceptible to ESD failures, especially those developed using advanced nanoscale CMOS (Complementary Metal Oxide Semiconductor) technologies. The majority of IC chip failures and field returns are attributed to ESD failures. This is also rare expertise and industries holding the art of designing ESD protection devices and interface concepts lead the market. Thus, R&amp;D in ESD technology for highly reliable interfaces and SoCs that operate at low power and high speed is an integral part of the semiconductor innovation effort. IISc is one of the few institutes in the world leading ESD device research.

Also read |&nbsp;<a href="https://www.wionews.com/world/garuda-aerospaces-made-in-india-drones-to-aid-new-delhis-rescue-efforts-in-turkey-559980">Garuda Aerospace's made-in-India drones to aid New Delhi's rescue efforts in Turkey</a>

"We have been collaborating extensively with semiconductor industries worldwide on advanced nanoelectronics technologies, including solutions to ESD reliability threats to advanced SoCs. We have carried out both fundamental and applied research on ESD protection devices, with a strong emphasis on creating practical solutions for the semiconductor industry in a range of technology nodes,” said Mayank, who heads the MSDLab, and will be leading this collaborative effort.

Samsung Semiconductor India Research, a subsidiary of Samsung Electronics, is the technology hub enabling innovative growth in both hardware development as well as software-powered solutions in semiconductor technologies.

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Electrostatic Discharge (ESD) has been a major cause for concern in the computing chip industry, as it causes unexpected destruction of semiconductor devices. The ESD phenomenon is a high-current and short-duration event caused by the transfer of electrostatic charge between two surfaces or bodies.

Electrostatic Discharge (ESD) has been a major cause for concern in the computing chip industry, as it causes unexpected destruction of semiconductor devices. The ESD phenomenon is a high-current and short-duration event caused by the transfer of electrostatic charge between two surfaces or bodies. It can happen due to human handling of chips and even robotic handling of chips. It is to develop ESD protection that South Korean Electronics giant Samsung's semiconductor arm and the Indian Institute of Science have joined hands. The partnership seeks to build cutting-edge ESD device solutions to protect ultra-high-speed serial interfaces in advanced Integrated Circuits (ICs) and system-on-chip (SoC) products. An integrated circuit refers to a circuit compressed into a small-sized chip, whereas a system-on-chip has computer-like capabilities and can run an operating system. The related research will be carried out by Professor Mayank Shrivastava’s group at the Department of Electronic Systems Engineering (DESE), IISc. Solutions arising from this research will be deployed in Samsung’s advanced process nodes, said the company. Also read | Boeing to exhibit Apache attack helicopter simulator, at Aero India 2023 The research agreement was exchanged by Balajee Sowrirajan, CVP & MD at Samsung Semiconductor India Research, Bengaluru, and Prof Govindan Rangarajan, Director, Indian Institute of Science (IISc), in the presence of delegates from Samsung and IISc. "Our goal is also to increase capacity building through training programmes at the postgraduate level, opening up opportunities for students to pursue industry internships, and encourage entrepreneurial ventures by young researchers," said Balajee Sowrirajan, CVP & MD, SSIR. ICs and SoCs are essential for any electronic system, large or small. However, they are very susceptible to ESD failures, especially those developed using advanced nanoscale CMOS (Complementary Metal Oxide Semiconductor) technologies. The majority of IC chip failures and field returns are attributed to ESD failures. This is also rare expertise and industries holding the art of designing ESD protection devices and interface concepts lead the market. Thus, R&D in ESD technology for highly reliable interfaces and SoCs that operate at low power and high speed is an integral part of the semiconductor innovation effort. IISc is one of the few institutes in the world leading ESD device research. Also read | Garuda Aerospace's made-in-India drones to aid New Delhi's rescue efforts in Turkey "We have been collaborating extensively with semiconductor industries worldwide on advanced nanoelectronics technologies, including solutions to ESD reliability threats to advanced SoCs. We have carried out both fundamental and applied research on ESD protection devices, with a strong emphasis on creating practical solutions for the semiconductor industry in a range of technology nodes,” said Mayank, who heads the MSDLab, and will be leading this collaborative effort. Samsung Semiconductor India Research, a subsidiary of Samsung Electronics, is the technology hub enabling innovative growth in both hardware development as well as software-powered solutions in semiconductor technologies. WATCH WION LIVE HERE

Samsung's semiconductor division ties up with IISc for R&D on safeguarding computing chips

Samsung Electronics reported a 69% slump in its profit in the December quarter which is the firm's lowest quarterly profit in nearly a decade. The company's outlook also showed lower profits likely for the first half of the year driven by a broad global economic slowdown and a fall in demand.

World Business Watch: Samsung reports lowest quarterly profit since 2014

Samsung Electronics said Tuesday that its fourth-quarter operating profits plunged nearly 70 percent, the biggest drop in more than eight years, as the global economic slowdown dealt a blow to electronics and chips sales.

The South Korean tech giant said operating profits for the October to December period slumped to 4.3 trillion won ($3.4 billion), a 69 percent drop from a year earlier.

The drop is in line with the estimate Samsung released earlier this month and marks the company's worst decline in quarterly profits since the third quarter of 2014.

"The business environment deteriorated significantly in the fourth quarter due to weak demand amid a global economic slowdown," Samsung said in a statement.

Sales fell eight percent to 70.46 trillion won from the same period the previous year.

Samsung singled out weak demand for memory chips, saying the sector had been hit hard "as prices fell and customers continued to adjust inventory amid deepening uncertainties in the external environment".

The firm is the flagship subsidiary of the giant Samsung Group, by far the biggest of the family-controlled conglomerates that dominate business in Asia's fourth-largest economy.

The fourth-quarter drop is the second consecutive margin squeeze for Samsung, which saw a 31 percent fall in operating profits in the third quarter year-on-year.

For the full year, Samsung reported 43.38 trillion won in operating profit and a record-high annual revenue of 302.23 trillion won.

'Heavy blow'

Until the second quarter of 2022, Samsung, along with other tech companies, significantly benefited from strong demand for electronic devices -- as well as chips that power them -- during the pandemic.

But the global economy is now facing multiple challenges, including soaring inflation, rising interest rates and higher energy costs.

Global memory chip revenue dropped 10 percent last year, as electronic equipment manufacturers "started to deplete memory inventory they had been holding in anticipation of stronger demand," according to tech research firm Gartner.

"Consumers also began to reduce spending, with PC and smartphone demand suffering, and then enterprises starting to reduce spending in anticipation of a global recession, all of which impacted overall semiconductor growth," said Andrew Norwood, VP Analyst at Gartner.

The macroeconomic uncertainties are expected to persist in 2023, Samsung said, adding: "the Company anticipates demand to begin recovering in the second half."

"Samsung was dealt a heavy blow with deteriorating external factors, like weaker demand and rising costs," Samsung Electronics vice chairman Han Jong-hee said during CES 2023 in Las Vegas earlier this month, according to the Yonhap News Agency.

"I think this difficult business environment will continue this year as a prolonged economic slowdown and risks in supply chains increase uncertainties."

Samsung Electronics said Tuesday that its fourth-quarter operating profits plunged nearly 70 percent, the biggest drop in more than eight years, as the global economic slowdown dealt a blow to electronics and chips sales.

Samsung Electronics said Tuesday that its fourth-quarter operating profits plunged nearly 70 percent, the biggest drop in more than eight years, as the global economic slowdown dealt a blow to electronics and chips sales. The South Korean tech giant said operating profits for the October to December period slumped to 4.3 trillion won ($3.4 billion), a 69 percent drop from a year earlier. The drop is in line with the estimate Samsung released earlier this month and marks the company's worst decline in quarterly profits since the third quarter of 2014. "The business environment deteriorated significantly in the fourth quarter due to weak demand amid a global economic slowdown," Samsung said in a statement. Sales fell eight percent to 70.46 trillion won from the same period the previous year. Samsung singled out weak demand for memory chips, saying the sector had been hit hard "as prices fell and customers continued to adjust inventory amid deepening uncertainties in the external environment". The firm is the flagship subsidiary of the giant Samsung Group, by far the biggest of the family-controlled conglomerates that dominate business in Asia's fourth-largest economy. The fourth-quarter drop is the second consecutive margin squeeze for Samsung, which saw a 31 percent fall in operating profits in the third quarter year-on-year. For the full year, Samsung reported 43.38 trillion won in operating profit and a record-high annual revenue of 302.23 trillion won. 'Heavy blow' Until the second quarter of 2022, Samsung, along with other tech companies, significantly benefited from strong demand for electronic devices -- as well as chips that power them -- during the pandemic. But the global economy is now facing multiple challenges, including soaring inflation, rising interest rates and higher energy costs. Global memory chip revenue dropped 10 percent last year, as electronic equipment manufacturers "started to deplete memory inventory they had been holding in anticipation of stronger demand," according to tech research firm Gartner. "Consumers also began to reduce spending, with PC and smartphone demand suffering, and then enterprises starting to reduce spending in anticipation of a global recession, all of which impacted overall semiconductor growth," said Andrew Norwood, VP Analyst at Gartner. The macroeconomic uncertainties are expected to persist in 2023, Samsung said, adding: "the Company anticipates demand to begin recovering in the second half." "Samsung was dealt a heavy blow with deteriorating external factors, like weaker demand and rising costs," Samsung Electronics vice chairman Han Jong-hee said during CES 2023 in Las Vegas earlier this month, according to the Yonhap News Agency. "I think this difficult business environment will continue this year as a prolonged economic slowdown and risks in supply chains increase uncertainties."

Samsung says Q4 profits plunge 69% to 8 year low on demand slump

Samsung India has said it is reviewing a notice from the Indian government related to a tax dispute. This comes after the media reports showing an Indian government agency accused Samsung Electronics India unit of classifying a product incorrectly to avoid paying import taxes.

Samsung India hit with show-cause tax notice by government

Samsung Electronics Co Ltd flagged on Friday its quarterly profit tumbled by two-thirds to an eight-year low as a weakening global economy hammered memory chip prices and curbed demand for electronic devices.

World Business Watch: Samsung Electronics quarterly profit sinks to an eight-year low

Samsung Electronics Co Ltd flagged on Friday that its quarterly profit tumbled by two-thirds to an eight-year low as a weakening global economy hammered memory chip prices and curbed demand for electronic devices.

The dismal profit estimate by the world's largest memory chip, smartphone and TV maker — a bellwether for global consumer demand — sets a weak tone for other technology firms' quarterly results.

Samsung's profits are expected to shrink again in the current quarter, analysts said, after the South Korean company announced its October-December operating profit likely fell 69% to 4.3 trillion won ($3.37 billion) from 13.87 trillion won a year earlier.

It was Samsung's smallest quarterly profit since the third quarter of 2014 and fell short of a 5.9 trillion won Refinitiv SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate.

"All of Samsung's businesses had a hard time, but chips and mobile especially," said Lee Min-hee, analyst at BNK Investment &amp; Securities.

Quarterly revenue likely fell 9% from the same period a year earlier to 70 trillion won, Samsung said in a short preliminary earnings statement. Asia's fourth-biggest listed company by market value will release detailed earnings on Jan. 31.

Rising global interest rates and cost of living have dampened demand for smartphones and other devices that Samsung makes and also for the semiconductors it supplies to rivals such as Apple Inc.

"For the memory business, the decline in fourth-quarter demand was greater than expected as customers adjusted inventories in their effort to further tighten finances...," Samsung said in the statement.

Also Read | <a href="http://www.wionnews.com/world/samsung-quarterly-profit-set-to-slump-25-first-decline-in-nearly-three-years-522972">Samsung quarterly profit set to slump 25%, first decline in nearly three years</a>

Its mobile business' profit declined in the fourth quarter as smartphone sales and revenue decreased due to weak demand resulting from prolonged macroeconomic issues, Samsung added.

"Memory chip prices fell in the mid-20% during the quarter, and high-end phones such as foldable didn't sell as well," said BNK Investment's Lee, adding its display business was hurt due to client Apple's production delays at the world's biggest iPhone factory in China during the quarter.

Three analysts said they expected Samsung's profits to dive again in the current quarter, with a likely operating loss for the chips business as a glut drives a further drop in memory chip prices.

Watch | Samsung profit at 8-year low on demand slump&nbsp;

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Samsung shares closed 1.4% higher on Friday, versus a 1.1% rise of the wider market. Shares of rival memory chip maker SK Hynix&nbsp;rose 2.1%.

"The reason shares are rising despite the poor earnings result is.. investors are hoping Samsung will need to reduce production, like Micron or SK Hynix said they would, which would help the memory industry overall," said Eo Kyu-jin, an analyst at DB Financial Investment.

Samsung had said in October that it did not expect much change to its 2023 investments. Analysts said that Samsung has a history of not announcing memory chip production cuts, but could organically adjust investment by delaying bringing in equipment or in other ways. 
&nbsp;

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Samsung Electronics Co Ltd flagged on Friday that its quarterly profit tumbled by two-thirds to an eight-year low as a weakening global economy hammered memory chip prices and curbed demand for electronic devices.

Samsung Electronics Co Ltd flagged on Friday that its quarterly profit tumbled by two-thirds to an eight-year low as a weakening global economy hammered memory chip prices and curbed demand for electronic devices. The dismal profit estimate by the world's largest memory chip, smartphone and TV maker — a bellwether for global consumer demand — sets a weak tone for other technology firms' quarterly results. Samsung's profits are expected to shrink again in the current quarter, analysts said, after the South Korean company announced its October-December operating profit likely fell 69% to 4.3 trillion won ($3.37 billion) from 13.87 trillion won a year earlier. It was Samsung's smallest quarterly profit since the third quarter of 2014 and fell short of a 5.9 trillion won Refinitiv SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate. "All of Samsung's businesses had a hard time, but chips and mobile especially," said Lee Min-hee, analyst at BNK Investment & Securities. Quarterly revenue likely fell 9% from the same period a year earlier to 70 trillion won, Samsung said in a short preliminary earnings statement. Asia's fourth-biggest listed company by market value will release detailed earnings on Jan. 31. Rising global interest rates and cost of living have dampened demand for smartphones and other devices that Samsung makes and also for the semiconductors it supplies to rivals such as Apple Inc. "For the memory business, the decline in fourth-quarter demand was greater than expected as customers adjusted inventories in their effort to further tighten finances...," Samsung said in the statement. Also Read | Samsung quarterly profit set to slump 25%, first decline in nearly three years Its mobile business' profit declined in the fourth quarter as smartphone sales and revenue decreased due to weak demand resulting from prolonged macroeconomic issues, Samsung added. "Memory chip prices fell in the mid-20% during the quarter, and high-end phones such as foldable didn't sell as well," said BNK Investment's Lee, adding its display business was hurt due to client Apple's production delays at the world's biggest iPhone factory in China during the quarter. Three analysts said they expected Samsung's profits to dive again in the current quarter, with a likely operating loss for the chips business as a glut drives a further drop in memory chip prices. Watch | Samsung profit at 8-year low on demand slump Samsung shares closed 1.4% higher on Friday, versus a 1.1% rise of the wider market. Shares of rival memory chip maker SK Hynix rose 2.1%. "The reason shares are rising despite the poor earnings result is.. investors are hoping Samsung will need to reduce production, like Micron or SK Hynix said they would, which would help the memory industry overall," said Eo Kyu-jin, an analyst at DB Financial Investment. Samsung had said in October that it did not expect much change to its 2023 investments. Analysts said that Samsung has a history of not announcing memory chip production cuts, but could organically adjust investment by delaying bringing in equipment or in other ways.

Samsung's quarterly profit plunges to 8-year low on demand slump

On Thursday (October 27), Jay Y Lee&nbsp;was named as executive chairman of Samsung, confirming that the billion-dollar company will be run by the third generation of the founder family.&nbsp;

The board approved Lee's ascension to the helm of the $250 billion company, it said in a statement.

<a href="https://www.wionews.com/world/global-economy-live-metas-q3-profits-see-sharp-dip-samsung-also-sees-fall-in-operating-profit-528706">Also read |&nbsp;Global Economy LIVE | Meta's Q3 profits see sharp dip, Samsung also sees fall in operating profit</a>

It was expected that Lee will take over the company in 2020 after the demise of his father, but the process was delayed due to a corruption probe and two-year imprisonment.&nbsp;

Lee earlier functioned as the vice-chairman of Samsung Electronics since 2012.&nbsp;

The announcement came the same day the company declared poor earnings and warned that it doesn't expect the situation to get better until the second half of the year 2023.&nbsp;

The electronics giant reported a drop of 31 per cent in its third-quarter profit. The geopolitical uncertainties&nbsp;will dampen demand until early 2023, it said, according to a Reuters report.&nbsp;

<a href="https://www.wionews.com/india-news/apple-samsung-to-upgrade-phone-software-in-india-for-5g-roll-out-by-december-524722">Also read |&nbsp;Apple, Samsung to upgrade phone software in India for 5G roll out by December</a>

Samsung hopes Lee's appointment will lead to growth in profits. To ensure the supply of chips, US and countries in Europe are pressuring Samsung to raise investments. South Korea, which significantly depends on the Chinese markets for exports, is currently being forced to take a side with US's campaign to stifle China's chip market, Bloomberg reported.&nbsp;

As per media reports, the new chairman owns 1.63 per cent of Samsung Electronics, and nearly 18.13 per cent of Samsung C&amp;T Corp. of the company.&nbsp;

According to Bloomberg data, Lee is worth nearly $6 billion.&nbsp;

(With inputs from agencies)

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&nbsp;

On Thursday (October 27), Jay Y Lee was named as executive chairman of Samsung, confirming that the billion-dollar company will be run by the third generation of the founder family.

On Thursday (October 27), Jay Y Lee was named as executive chairman of Samsung, confirming that the billion-dollar company will be run by the third generation of the founder family. The board approved Lee's ascension to the helm of the $250 billion company, it said in a statement. Also read | Global Economy LIVE | Meta's Q3 profits see sharp dip, Samsung also sees fall in operating profit It was expected that Lee will take over the company in 2020 after the demise of his father, but the process was delayed due to a corruption probe and two-year imprisonment. Lee earlier functioned as the vice-chairman of Samsung Electronics since 2012. The announcement came the same day the company declared poor earnings and warned that it doesn't expect the situation to get better until the second half of the year 2023. The electronics giant reported a drop of 31 per cent in its third-quarter profit. The geopolitical uncertainties will dampen demand until early 2023, it said, according to a Reuters report. Also read | Apple, Samsung to upgrade phone software in India for 5G roll out by December Samsung hopes Lee's appointment will lead to growth in profits. To ensure the supply of chips, US and countries in Europe are pressuring Samsung to raise investments. South Korea, which significantly depends on the Chinese markets for exports, is currently being forced to take a side with US's campaign to stifle China's chip market, Bloomberg reported. As per media reports, the new chairman owns 1.63 per cent of Samsung Electronics, and nearly 18.13 per cent of Samsung C&T Corp. of the company. According to Bloomberg data, Lee is worth nearly $6 billion. (With inputs from agencies) WATCH WION LIVE HERE

Samsung appoints heir and ex-convict Jay Y Lee executive chairman as losses mount

Global economic downturn has slashed appetite for electronic devices and now Samsung Electronics has reported 31% drop in third quarter profit.

WION Business News | Samsung electronics Q3 profit slumps 31%

Apple&nbsp;Inc and Samsung Electronics will upgrade software for their 5G-enabled phones in India by December, the companies said on Wednesday, as Indian authorities press mobile phone manufacturers to adopt the high-speed network.

Apple&nbsp;said it would push software upgrades to recent models, including the iPhone 14, 13, 12 and iPhone SE, which, industry sources say, do not yet support the network.

"We are working with our carrier partners in India to bring the best 5G experience to iPhone users as soon as network validation and testing for quality and performance is completed,"&nbsp;Apple&nbsp;said in a statement.

"5G will be enabled via a software update and will start rolling out to iPhone users in December."

Indian Prime Minister Narendra Modi launched 5G services on Oct. 1 amid much fanfare, with leading telecom operator Reliance Jio saying it would make the service available in four cities, while rival Bharti Airtel targeted eight cities.

A Samsung India spokesperson said the company would roll out updates across all its 5G devices by mid-November.

Ministry of electronics and IT officials held a meeting on Wednesday dedicated to 5G adoption, which executives from&nbsp;Apple, Samsung, Vivo and Xiaomi, and telecom operators Reliance, Airtel and Vodafone Idea attended.

The agenda includes "prioritising" the release of software upgrades for supporting the high-speed network, the notice for the closed-door meeting stated.

While telecom players and smartphone makers have been holding discussions with each other, ironing out compatibility issues between the specific 5G technology of telecom companies in India and phone software is taking time, one of the industry sources said.

A Google spokesperson said on Wednesday: "Pixel 7, 7 Pro and Pixel 6a are 5G capable devices. We are actively working with the Indian carriers to enable functionality at the earliest."

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Apple Inc and Samsung Electronics will upgrade software for their 5G-enabled phones in India by December, the companies said on Wednesday, as Indian authorities press mobile phone manufacturers to adopt the high-speed network.

Apple Inc and Samsung Electronics will upgrade software for their 5G-enabled phones in India by December, the companies said on Wednesday, as Indian authorities press mobile phone manufacturers to adopt the high-speed network. Apple said it would push software upgrades to recent models, including the iPhone 14, 13, 12 and iPhone SE, which, industry sources say, do not yet support the network. "We are working with our carrier partners in India to bring the best 5G experience to iPhone users as soon as network validation and testing for quality and performance is completed," Apple said in a statement. "5G will be enabled via a software update and will start rolling out to iPhone users in December." Indian Prime Minister Narendra Modi launched 5G services on Oct. 1 amid much fanfare, with leading telecom operator Reliance Jio saying it would make the service available in four cities, while rival Bharti Airtel targeted eight cities. A Samsung India spokesperson said the company would roll out updates across all its 5G devices by mid-November. Ministry of electronics and IT officials held a meeting on Wednesday dedicated to 5G adoption, which executives from Apple, Samsung, Vivo and Xiaomi, and telecom operators Reliance, Airtel and Vodafone Idea attended. The agenda includes "prioritising" the release of software upgrades for supporting the high-speed network, the notice for the closed-door meeting stated. While telecom players and smartphone makers have been holding discussions with each other, ironing out compatibility issues between the specific 5G technology of telecom companies in India and phone software is taking time, one of the industry sources said. A Google spokesperson said on Wednesday: "Pixel 7, 7 Pro and Pixel 6a are 5G capable devices. We are actively working with the Indian carriers to enable functionality at the earliest." WATCH WION LIVE HERE

Apple, Samsung to upgrade phone software in India for 5G roll out by December

Shares in major Asian computer chipmakers slumped on Tuesday after the US announced tough new measures to restrict sales of technology to China.

The US said it will ban American firms from selling certain chips used for supercomputers and artificial intelligence to Chinese firms, BBC reported.

The rules, which were announced on October 7, also target sales from non-US companies that use American equipment.

Watch |&nbsp;World Business Watch: Samsung Electronics posts first quarterly earnings drop in nearly 3 years

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Technology firms are also seeing demand fall as the global economy slows.

On Tuesday, shares of Taiwanese chipmaker TSMC tumbled 7.7 per cent, South Koreas Samsung Electronics was 2.3 per cent lower, while Tokyo Electron in Japan fell by 5.5 per cent.

The falls came after stock markets in Taiwan, South Korea and Japan reopened after being closed for public holidays on Monday.

Also read |&nbsp;<a href="https://www.wionews.com/world/semiconductor-war-us-announces-rules-that-will-set-back-the-chinese-chip-industry-by-years-523510">US enforces export controls to restrict China's chip supply for hi-tech military applications</a>

Elsewhere in Asia, shares in China's biggest chipmaker SMIC fell by 1.7 per cent in Hong Kong, the BBC reported.

Under the regulations, US companies must apply for a licence to supply Chinese chipmakers with equipment that can produce more advanced chips.

Washington said the rules were aimed at curbing Chinese military and technological advances.

Also read |&nbsp;<a href="https://www.wionews.com/world/the-semiconductor-wars-us-to-announce-fresh-chip-export-restrictions-to-china-522325">The semiconductor wars: US to announce fresh chip export restrictions to China</a>

The measures, some of which take effect immediately, mark one of the biggest shifts in US policy toward exporting technology to China in decades.

In the US on Monday, the technology-heavy Nasdaq index closed at its lowest level since July 2020 as shares in chipmakers Intel, Nvidia, Qualcomm and Advanced Micro Devices fell, the BBC reported.

Technology shares around the world have also been hit in recent weeks by lower demand for electronic products ranging from computers to smartphones.

On October 7, South Korean technology giant Samsung warned of a 32 per cent slide in its profits.

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Shares in major Asian computer chipmakers slumped on Tuesday after the US announced tough new measures to restrict sales of technology to China. The US said it will ban American firms from selling certain chips used for supercomputers and artificial intelligence to Chinese firms, BBC reported.

Shares in major Asian computer chipmakers slumped on Tuesday after the US announced tough new measures to restrict sales of technology to China. The US said it will ban American firms from selling certain chips used for supercomputers and artificial intelligence to Chinese firms, BBC reported. The rules, which were announced on October 7, also target sales from non-US companies that use American equipment. Watch | World Business Watch: Samsung Electronics posts first quarterly earnings drop in nearly 3 years Technology firms are also seeing demand fall as the global economy slows. On Tuesday, shares of Taiwanese chipmaker TSMC tumbled 7.7 per cent, South Koreas Samsung Electronics was 2.3 per cent lower, while Tokyo Electron in Japan fell by 5.5 per cent. The falls came after stock markets in Taiwan, South Korea and Japan reopened after being closed for public holidays on Monday. Also read | US enforces export controls to restrict China's chip supply for hi-tech military applications Elsewhere in Asia, shares in China's biggest chipmaker SMIC fell by 1.7 per cent in Hong Kong, the BBC reported. Under the regulations, US companies must apply for a licence to supply Chinese chipmakers with equipment that can produce more advanced chips. Washington said the rules were aimed at curbing Chinese military and technological advances. Also read | The semiconductor wars: US to announce fresh chip export restrictions to China The measures, some of which take effect immediately, mark one of the biggest shifts in US policy toward exporting technology to China in decades. In the US on Monday, the technology-heavy Nasdaq index closed at its lowest level since July 2020 as shares in chipmakers Intel, Nvidia, Qualcomm and Advanced Micro Devices fell, the BBC reported. Technology shares around the world have also been hit in recent weeks by lower demand for electronic products ranging from computers to smartphones. On October 7, South Korean technology giant Samsung warned of a 32 per cent slide in its profits. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Asian chipmaker shares slump after US curbs restrict sales of technology to China

Samsung Electronics flagged a worse-than-expected 32% drop in quarterly operating earnings, as demand for electronic devices and the memory chips shrank due to an economic downturn.

World Business Watch: Samsung Electronics posts first quarterly earnings drop in nearly 3 years

Samsung&nbsp;Electronics Co Ltd's third-quarter profit could tumble 25 per cent, the first year-on-year decline in nearly three years, as an economic downturn saps demand for electronic devices and&nbsp;chips that power them.

Globally, inflation is on the rise, central banks are aggressively hiking interest rates, fears of recession are growing and uncertainty about the fallout from Russia's invasion of Ukraine is ever-present. As a result, businesses and consumers alike have reined in spending.

Operating profit for&nbsp;Samsung, the world's biggest memory chip and smartphone maker, likely fell to 11.8 trillion won ($8.3 billion) in the July-September quarter, according to a Refinitiv SmartEstimate from 22 analysts.

"Being the world's top memory chip maker, top in TV and mobile OLED displays, and top in smartphone shipments,&nbsp;Samsung&nbsp;is highly sensitive to the economy, with profits easily linked to demand," said Greg Roh, head of research at Hyundai Motor Securities.

Also read |&nbsp;Review: Samsung Galaxy Z Flip 4 | Tech It Out

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It would be the first profit decline since the first quarter of 2020, early on in the pandemic, and the lowest level of quarterly profit since the first quarter of 2021. Until this latest quarter, robust demand for devices as people were forced to stay at home has driven large profit gains for the South Korean tech giant.

Operating profit for&nbsp;Samsung's chip business likely fell by nearly a third to 6.8 trillion won, an average of seven estimates showed.

Prices of some DRAM memory chips, widely used in smartphones and PCs, tumbled 14 per cent&nbsp;in the quarter while prices for NAND flash chips, used in data storage, fell 8 per cent, according to TrendForce data.

Shares in&nbsp;Samsung, which will announce preliminary results at about 8.40 local time on Friday (2340 GMT on Thursday), have fallen about 30 per cent&nbsp;this year. That compares with a 37 per cent&nbsp;slump for the Philadelphia Semiconductor index.

Samsung's mobile business is also expected to see profits tumble with forecasts calling for a 17 per cent&nbsp;fall to 2.8 trillion won, although the launch of the company's pricy new foldable phones during the quarter raised the average selling price.

Kim Yang-jae, an analyst at Daol Investment &amp; Securities, estimates that&nbsp;Samsung's smartphone shipments dropped 11 per cent in the quarter from the same period a year earlier to about 62.6 million smartphones after distribution channels cut orders.

Memory chip rival Micron Technology last week significantly cut its investments for the next year and warned of tougher times ahead.

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Samsung Electronics Co Ltd's third-quarter profit could tumble 25 per cent, the first year-on-year decline in nearly three years, as an economic downturn saps demand for electronic devices and chips that power them.

Samsung Electronics Co Ltd's third-quarter profit could tumble 25 per cent, the first year-on-year decline in nearly three years, as an economic downturn saps demand for electronic devices and chips that power them. Globally, inflation is on the rise, central banks are aggressively hiking interest rates, fears of recession are growing and uncertainty about the fallout from Russia's invasion of Ukraine is ever-present. As a result, businesses and consumers alike have reined in spending. Operating profit for Samsung, the world's biggest memory chip and smartphone maker, likely fell to 11.8 trillion won ($8.3 billion) in the July-September quarter, according to a Refinitiv SmartEstimate from 22 analysts. "Being the world's top memory chip maker, top in TV and mobile OLED displays, and top in smartphone shipments, Samsung is highly sensitive to the economy, with profits easily linked to demand," said Greg Roh, head of research at Hyundai Motor Securities. Also read | Review: Samsung Galaxy Z Flip 4 | Tech It Out It would be the first profit decline since the first quarter of 2020, early on in the pandemic, and the lowest level of quarterly profit since the first quarter of 2021. Until this latest quarter, robust demand for devices as people were forced to stay at home has driven large profit gains for the South Korean tech giant. Operating profit for Samsung's chip business likely fell by nearly a third to 6.8 trillion won, an average of seven estimates showed. Prices of some DRAM memory chips, widely used in smartphones and PCs, tumbled 14 per cent in the quarter while prices for NAND flash chips, used in data storage, fell 8 per cent, according to TrendForce data. Shares in Samsung, which will announce preliminary results at about 8.40 local time on Friday (2340 GMT on Thursday), have fallen about 30 per cent this year. That compares with a 37 per cent slump for the Philadelphia Semiconductor index. Samsung's mobile business is also expected to see profits tumble with forecasts calling for a 17 per cent fall to 2.8 trillion won, although the launch of the company's pricy new foldable phones during the quarter raised the average selling price. Kim Yang-jae, an analyst at Daol Investment & Securities, estimates that Samsung's smartphone shipments dropped 11 per cent in the quarter from the same period a year earlier to about 62.6 million smartphones after distribution channels cut orders. Memory chip rival Micron Technology last week significantly cut its investments for the next year and warned of tougher times ahead. WATCH WION LIVE HERE

Samsung quarterly profit set to slump 25%, first decline in nearly three years

Finding a perfect work-life balance has been a daunting task for every professional. Despite best efforts, it has been difficult to spend quality time with the family as one is swarmed with overwork. In an effort to find the right balance, South Korean tech behemoth Samsung has brought an innovative new gadget that can help people prevent overworking.

This radical innovation is in fact a computer mouse that will stop working after the scheduled office hours.

Dubbed ‘Samsung Balance Mouse’, this gadget is designed in such a way that it will literally start running&nbsp;from the desk the moment one starts working a lot.

Recently, the tech giant shared a concept video of the mouse on its official Korean YouTube channel.

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In the clip, a man can be seen working and as he reaches the mouse past 6 pm, the new Samsung mouse starts running away.

According to Samsung, the wheels of the mouse are activated as soon as it detects the hand movement and it starts running away.

The clip further shows that when the man tries hard and forcefully grabs the mouse, it detaches itself from the central part and runs away.

In the video, Samsung said that a majority of workers are hesitant to leave the office on time as they are always under immense pressure to complete their pending tasks.

They assert that the primary reason behind conceptualising the Balance Mouse was to improve the work-life balance in Korea.

Sadly, since this mouse is in the initial concept stage, it is unknown when the gadget will be available for purchase. This concept was created in association with an ad agency.

Finding a perfect work-life balance has been a daunting task for every professional. Despite best efforts, it has been difficult to spend quality time with the family as one is swarmed with overwork.

Finding a perfect work-life balance has been a daunting task for every professional. Despite best efforts, it has been difficult to spend quality time with the family as one is swarmed with overwork. In an effort to find the right balance, South Korean tech behemoth Samsung has brought an innovative new gadget that can help people prevent overworking. This radical innovation is in fact a computer mouse that will stop working after the scheduled office hours. Dubbed ‘Samsung Balance Mouse’, this gadget is designed in such a way that it will literally start running from the desk the moment one starts working a lot. Recently, the tech giant shared a concept video of the mouse on its official Korean YouTube channel. × In the clip, a man can be seen working and as he reaches the mouse past 6 pm, the new Samsung mouse starts running away. According to Samsung, the wheels of the mouse are activated as soon as it detects the hand movement and it starts running away. The clip further shows that when the man tries hard and forcefully grabs the mouse, it detaches itself from the central part and runs away. In the video, Samsung said that a majority of workers are hesitant to leave the office on time as they are always under immense pressure to complete their pending tasks. They assert that the primary reason behind conceptualising the Balance Mouse was to improve the work-life balance in Korea. Sadly, since this mouse is in the initial concept stage, it is unknown when the gadget will be available for purchase. This concept was created in association with an ad agency.

This new mouse from Samsung will run away if you overwork

The US justice jepartment told a federal judge that Google is paying billions of dollars annually to illegally remain the top search engine.

Describing the payments as “enormous numbers,” Department of Justice attorney Kenneth Dintzer said telecom giants and companies being paid include Apple Inc and Samsung Electronics Co.

During a hearing in Washington, which marked the first major face-off in the case, Dintzer told Judge Amit Mehta “Google invests billions in defaults, knowing people won’t change them.”

“They are buying default exclusivity because defaults matter a lot,” he added.

Alleging the company has sought to maintain its online search monopoly in violation of antitrust laws, Google’s contracts form the basis of the DOJ’s landmark antitrust lawsuit.

Also see |&nbsp;<a href="https://www.wionews.com/photos/from-google-to-meta-tech-giants-dominating-wall-streets-trillion-dollar-club-477022" hreflang="en">From Google to Meta: Tech giants dominating Wall Street's trillion-dollar club</a>

Before Facebook's parent company Meta, state attorneys general are pursuing a parallel antitrust suit against the search giant.

The federal government’s first major effort to rein in the power of the tech giants was filed in the waning days of the Trump administration.

Hosting a roundtable with experts to explore the harm major tech platforms can wreak on the economy and children’s health, the White House outlined six principles to reform Big Tech platforms.

According to Google’s attorney John Schmidtlein, the company faces more competition from TikTok, Meta Platforms and Amazon than Microsoft.

“You don’t have to go to Google to shop on Amazon. You don’t have to go to Google to buy plane tickets on Expedia,” he said.

Highlighting that Google controls both the most popular browser and the second-most popular mobile operating system, the DOJ said having fresh data on user search queries is key to a search engine’s success.

Pointing out its default contracts have hemmed in potential rivals, DOJ’s Dintzer focused on the mechanics of Google’s search engine during his presentation.

Allowing it to prevent rivals from gaining the scale that would be needed to challenge its search engine, Google’s contracts make it the “gateway” by which most people find websites on the internet, according to Dintzer.

(With inputs from agencies)

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The US justice jepartment told a federal judge that Google is paying billions of dollars annually to illegally remain the top search engine. Describing the payments as “enormous numbers,” Department of Justice attorney Kenneth Dintzer said telecom giants and companies being paid include Apple Inc and Samsung Electronics Co.

The US justice jepartment told a federal judge that Google is paying billions of dollars annually to illegally remain the top search engine. Describing the payments as “enormous numbers,” Department of Justice attorney Kenneth Dintzer said telecom giants and companies being paid include Apple Inc and Samsung Electronics Co. During a hearing in Washington, which marked the first major face-off in the case, Dintzer told Judge Amit Mehta “Google invests billions in defaults, knowing people won’t change them.” “They are buying default exclusivity because defaults matter a lot,” he added. Alleging the company has sought to maintain its online search monopoly in violation of antitrust laws, Google’s contracts form the basis of the DOJ’s landmark antitrust lawsuit. Also see | From Google to Meta: Tech giants dominating Wall Street's trillion-dollar club Before Facebook's parent company Meta, state attorneys general are pursuing a parallel antitrust suit against the search giant. The federal government’s first major effort to rein in the power of the tech giants was filed in the waning days of the Trump administration. Hosting a roundtable with experts to explore the harm major tech platforms can wreak on the economy and children’s health, the White House outlined six principles to reform Big Tech platforms. According to Google’s attorney John Schmidtlein, the company faces more competition from TikTok, Meta Platforms and Amazon than Microsoft. “You don’t have to go to Google to shop on Amazon. You don’t have to go to Google to buy plane tickets on Expedia,” he said. Highlighting that Google controls both the most popular browser and the second-most popular mobile operating system, the DOJ said having fresh data on user search queries is key to a search engine’s success. Pointing out its default contracts have hemmed in potential rivals, DOJ’s Dintzer focused on the mechanics of Google’s search engine during his presentation. Allowing it to prevent rivals from gaining the scale that would be needed to challenge its search engine, Google’s contracts make it the “gateway” by which most people find websites on the internet, according to Dintzer. (With inputs from agencies) Watch WION's live TV here: ×

US justice department accuses Google of paying billions annually to illegally remain top search engine

If you think that the smartphone market has reached a saturation point, we say, think again. Foldable phones will be the next big thing in the smartphone space. Samsung has gotten off to a good start with the Galaxy Z Fold and Galaxy Z Flip series. In this video, we will about the fourth generation of the Galaxy Z Flip. We spent some time on the phone and here's what we think about it.

Review: Samsung Galaxy Z Flip 4 | Tech It Out

India is planning to speed up safety approvals for electronic devices, ranging from wireless earbuds to smartphones, to reduce the time taken to arrive in the market, Reuters reported citing an industry group.

Currently, it takes anywhere from 16 to 21 weeks to test and certify the products. Once it is approved, the time can be cut by as much as five to eight weeks.

Industry executives say India's cumbersome testing process usually takes 16 weeks for a new Apple AirPods model, for example, as the charging case and its components must first secure clearance before the earbuds are assessed.

Whereas for smartphones and their parts, the procedure could take an average of up to 21 weeks.

The move comes following Prime Minister Narendra Modi’s push to increase the electronics hardware manufacturing industry output to $300 billion by 2026.

The decision was taken following a meeting this week between MAIT—a key electronic hardware industry body—and the Bureau of Indian Standards (BIS), the country’s nodal agency responsible for setting quality and safety standards.

Members of MAIT comprise Apple, Samsung and Xiaomi, along with global and domestic firms operating in India's electronics, telecom and IT sector.

According to Reuters, the BIS is working on a pilot project to do away with the existing sequential testing model and deploy parallel testing for electronic devices in the South Asian market.

"For industry, it is directly linked with ease of doing business; for consumers, this will result in faster access to the latest products," MAIT said in its statement.

According to MAIT, earbuds will be the first devices likely to be put through faster testing, with the government deciding on other products later.

(With inputs from agencies)

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India is planning to speed up safety approvals for electronic devices, ranging from wireless earbuds to smartphones, to reduce the time taken to arrive in the market, Reuters reported citing an industry group.

India is planning to speed up safety approvals for electronic devices, ranging from wireless earbuds to smartphones, to reduce the time taken to arrive in the market, Reuters reported citing an industry group. Currently, it takes anywhere from 16 to 21 weeks to test and certify the products. Once it is approved, the time can be cut by as much as five to eight weeks. Industry executives say India's cumbersome testing process usually takes 16 weeks for a new Apple AirPods model, for example, as the charging case and its components must first secure clearance before the earbuds are assessed. Whereas for smartphones and their parts, the procedure could take an average of up to 21 weeks. The move comes following Prime Minister Narendra Modi’s push to increase the electronics hardware manufacturing industry output to $300 billion by 2026. The decision was taken following a meeting this week between MAIT—a key electronic hardware industry body—and the Bureau of Indian Standards (BIS), the country’s nodal agency responsible for setting quality and safety standards. Members of MAIT comprise Apple, Samsung and Xiaomi, along with global and domestic firms operating in India's electronics, telecom and IT sector. According to Reuters, the BIS is working on a pilot project to do away with the existing sequential testing model and deploy parallel testing for electronic devices in the South Asian market. "For industry, it is directly linked with ease of doing business; for consumers, this will result in faster access to the latest products," MAIT said in its statement. According to MAIT, earbuds will be the first devices likely to be put through faster testing, with the government deciding on other products later. (With inputs from agencies) WATCH WION LIVE HERE

India planning to speed up testing, safety evaluation process for electronic devices: Report

To help overcome a national economic crisis, South Korea's President Yoon Suk-yeol pardoned Samsung Electronics Vice Chairman Jay Y Lee. The pardon is largely symbolic with Lee already out on parole after serving 18 months in jail.

South Korean president Yoon pardons Samsung's Lee

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