News
Samsung sold 1.6% share in China’s BYD as part of increasing investment in the US
Recently, Samsung has sold a 1.6% share of 1.5 trillion won ($ 1.3 billion) in China’s electric car and regenerated battery maker BYD, raising questions about its sale of stakes as technology firms and electricians in the race to develop electric and independent driving vehicles.
According to the report, the South Korean technology company said its stake in BYD was 0.3% at the end of the first quarter. That compares with its previous report to the Korean financial regulator that its BYD stake was 1.9% by the end of 2020.
Samsung bought the stake in 2016, saying the aim was to strengthen China’s electric car relationship with battery makers and improve its automotive business. The company has made an investment through its Chinese subsidiary, Shanghai Samsung Semiconductor.
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Samsung’s BYD stock market, which comes at a time when global technology companies are entering the car industry for the next generation of vehicles, has left industry viewers confused about its intentions.
BYD shares on China’s Shenzhen Stock Exchange traded at 254.1 yuan, up 31% from 194.3 yuan at the end of 2020. However, some reports say that Samsung has all reasons to withdraw money from the BYD stake, given that the Korean company currently lives in an estimated $100 million bank account.
US President Joe Biden asks global firms to invest more in America to constrain China
Samsung’s sale of the BYD stake also comes at a time when the thread in its US investment plans is under pressure, with US President Joe Biden calling on international companies to spend more money in the United States to stop China and the need to work for its Chinese clients.
Samsung, the world’s largest memory chipmaker, is currently considering investing $ 17 billion to build a new manufacturing plant near an existing factory in Austin, Texas.
In China, Samsung is working with the NAND flash memory plant in Xian and plans to expand the facilities there to meet the growing needs of one of its major chip customers.
Samsung’s Chinese customers include smartphone makers such as Xiaomi, Oppo, and Vivo. Samsung could also be asked by the Chinese government to build more chip plants in China.
News
Multimodal Gemini Nano arrives on flagship MediaTek Dimensity chips
MediaTek Dimensity 9400 will be equipped with Multimodal Gemini Nano capabilities. MediaTek today confirmed its collaboration with Google. Future flagship chipsets, starting with the Dimensity 9400 will feature Gemini Nano with multimodality.
According to MediaTek, Dimensity SoCs are now optimized to support Gemini Nano with new multimodal capabilities. The upcoming chip will debut Gemini Nano integration, with existing models that could also add support in the future.
MediaTek revealed that the Dimensity 9400 features a new 8th-gen NPU with hardware acceleration for text, image, and speech. The Taiwanese chip designer is expanding its footsteps eyeing significant growth amid the AI boom.
Samsung’s recently launched Galaxy Tab S10 series supports GenAI capabilities. It means the Dimensity 9300+ processor could also gain multimodal Gemini Nano integration. We are hearing that the S25 could also use Dimensity 9400.
MediaTek’s partnership with Google highlights a shared vision for bringing Generative AI experiences across the Android ecosystem, and is a big step forward in the advancement of complex AI models running on-device.
Multimodal Gemini Nano will ensure users can take images and receive detailed descriptions of what’s been captured. MediaTek previously announced support for Google’s LLM, optimized for on-device AI processing.
News
Samsung announces end of software updates for Galaxy Z Fold 2 5G
Samsung recently updated its software support plan for October 2024, and it has noted that the Galaxy Z Fold 2 5G will no longer receive any updates. This popular foldable smartphone has been removed from the list of eligible devices for One UI updates and security patches because it has completed its update cycle.
The Galaxy Z Fold 2 was launched in 2020, initially coming with Android 10. It has since received updates, including the Android 13 update with One UI 5.1.1. After that, it is not eligible for any more major Android OS updates. Now, Samsung has also ended its software support, which means it will not receive any new security updates.
Even though the Galaxy Z Fold 2 5G will not receive further updates from Samsung, it is still a secure and functional device for everyday use. The phone operates on Android 13, which supports all major apps, including those for banking, so users can continue to perform their daily tasks without issues.
Additionally, Google Play continues to provide system updates to ensure that the phone’s key features remain up to date.
For those considering an upgrade, Samsung offers new foldable smartphones, including the Galaxy Z Fold 6, Galaxy Z Flip 6, Galaxy Z Fold 5, and Galaxy Z Flip 5. These newer models come with improved features and will receive software updates for a longer period.
However, if your Galaxy Z Fold 2 is still working well for you, there’s no need to replace it. The device can still serve your needs effectively, even without the latest updates.
October 2024 | Samsung Galaxy Devices getting Monthly and Quarterly Updates
News
Samsung vows faster innovation, issues surprise apology
Samsung issued a rare apology shortly after announcing the 3Q24 earnings estimation. The frank apology comes from the newly appointed Head of DS Division and VC at Samsung Electronics, Yong-Hyun Jeon.
Through a press release, Samsung’s leadership extended its deepest apology to customers, investors, and employees. The announcement highlights several potential decisions as part of reclaiming the edge in the mobile industry.
Samsung VC’s statement:
“We have fallen short of market expectations, causing concern not only about our fundamental technological competitiveness but also about the future of our company.”
“Many people have expressed concerns about Samsung’s current crisis, and we take full responsibility for it as the leaders driving our business.”
Samsung’s operating profit declined by 12.84% compared to the previous quarter. The company managed to increase its sales in Q3, but it fell short of expectations. The company eventually failed to secure significant growth despite the AI boom.
Samsung reiterates its commitment to turn crises into opportunities through challenges, innovation, and perseverance. The company’s leadership team will take the lead in overcoming this crisis, the Newsroom post states.
Potential decisions eyeing long term growth:
- Samsung will restore our fundamental technological competitiveness.
- Samsung will ensure fundamental competitiveness.
- The development of new technologies that do not yet exist in the world and achieving unparalleled quality are the only ways for Samsung to rise again.
Preparation before deployment:
- Samsung will pave the way forward, reigniting the passion it’s known for.
- Samsung won’t adopt a mindset of merely defending anymore, but it will realm itself with a spirit of challenge, racing toward even higher goals.
Organizational reshuffle:
- Samsung said to closely re-examine the organizational culture and working methods as well as immediately correct anything that needs fixing.
- When the company identifies issues in the field, it will openly discuss and fiercely debate them to drive improvements.