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Samsung sold 1.6% share in China’s BYD as part of increasing investment in the US

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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.

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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.

Hey, Camila is here! From the very beginning, I love using Samsung phones like a die-hard fan. Apart from detailing One UI features for readers, I love exploring different apps of the Samsung ecosystem with a cup of tea!

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9 Samsung Galaxy devices will get Circle to Search feature this week

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Samsung‘s Galaxy S24 series introduced the Google-powered Circle to Search feature, which is now set to expand to more Galaxy devices with the One UI 6.1 update. The Circle to Search feature expansion has been officially confirmed for more Google Pixel and Samsung Galaxy models.

Google and Alphabet CEO Sundar Pichai announced that Circle to Search will be available on more Pixel and Samsung Galaxy devices this week. He also noted that this feature would allow users to translate text on their screen without switching between applications.

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One UI 6.1 update will bring the Circle to Search feature to nine Samsung devices, including the Galaxy S23, Galaxy S23 FE, Galaxy S23 Plus, Galaxy S23 Ultra, Galaxy Z Flip 5, Galaxy Z Fold 5, Galaxy Tab S9, Galaxy Tab S9 Plus, and Galaxy Tab S9 Ultra.

Following the Pixel 8 and Pixel 7 series, this feature is also now scheduled to be released for the Pixel 6 series, Pixel Fold, and Pixel Tablet starting this week.

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Samsung’s Bespoke AI Combo shines in outdoor ads at Korea’s major landmarks

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Samsung is enhancing its presence with the ‘Bespoke AI Combo’ through outdoor advertisements at major landmarks across Korea. The advertisement highlights the product’s efficiency, showcasing its ability to wash and dry clothes swiftly using AI technology.

Since the 8th of March, the campaign has reached 20 significant locations, leading to outstanding sales of over 1,000 units in just three days and a total of 3,000 units in 12 days.

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The company has showcased the ‘Bespoke AI Combo’ at prominent locations in Korea including Yeouido The Hyundai Seoul, Seoul COEX, Seoul Famille Station, Gangnam Station, Starfield Suwon, Busan Shinsegae Department Store Centum City Branch, and Shinsegae Department Store Daegu Branch.

Samsung is set to expand its marketing efforts for the ‘Bespoke AI Combo’ with a TV advertisement scheduled for the 23rd, complementing its existing outdoor campaign.

Furthermore, this year, Samsung continues to advance its AI home appliance line, introducing products like the Bespoke Jet AI and Bespoke Grande AI, strengthening its position as a leader in AI-powered home appliances.

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Apple faces US DOJ lawsuit over alleged iPhone monopoly

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The US Department of Justice (DOJ) has filed a lawsuit against tech giant Apple, accusing the company of maintaining an illegal monopoly in the smartphone market. The DOJ accuses Apple of violating the Sherman Antitrust Act.

The suit claims Apple has restricted third-party app growth, limited cloud and game-streaming services, forced continued iPhone purchases for messaging, diminished non-Apple smartwatch functionality, and prevented third-party digital wallet use.

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In a press conference, US Attorney General Merrick Garland highlighted issues such as the App Store’s fee system, degraded third-party accessory experiences, and relies heavily on Messages. The case, backed by 16 state Attorneys General, could have significant implications for Apple’s business practices and the broader tech industry.

The US DOJ said in a release about the suit:

Apple exercises its monopoly power to extract more money from consumers, developers, content creators, artists, publishers, small businesses, and merchants, among others.”

Apple US DOJ iphone monopoly

Apple also responded by defending its innovation and user-focused approach, warning that the lawsuit could hinder its ability to deliver the seamless technology integration users expect. Check the entire response of Apple below.

At Apple, we innovate every day to make technology people love — designing products that work seamlessly together, protect people’s privacy and security, and create a magical experience for our users. This lawsuit threatens who we are and the principles that set Apple products apart in fiercely competitive markets.

If successful, it would hinder our ability to create the kind of technology people expect from Apple — where hardware, software, and services intersect. It would also set a dangerous precedent, empowering the government to take a heavy hand in designing people’s technology. We believe this lawsuit is wrong on the facts and the law, and we will vigorously defend against it.”

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