Samsung Electronics Co Stock (OTC: SSNLF)

Samsung Electronics Co Stock (OTC:SSNLF), Trade Ideas

Samsung Electronics Co Ltd is a diversified electronics conglomerate that manufactures and sells a wide range of products, including smartphones, semiconductor chips, printers, home appliances, medical equipment, and telecom network equipment. More than half of its profit is generated from semiconductor business, and a further 25% is generated from its mobile handset business, although these percentages vary with the fortunes of each of these businesses. It is the largest smartphone and television manufacturer in the world, which helps provide a base demand for its component businesses, such as memory chips and displays, and is also the largest manufacturer of these globally.

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Samsung&#39;s executives adapt to challenges with six-day workweeks, addressing financial setbacks and competitive pressures.

Samsung&#39;s New Strategy: &#39;Inject A Sense Of Crisis ... To Overcome Crisis&#39; With 6-Day Executive Workweeks

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US govt awards Samsung $6.4B to expand chip-making operations in Texas, supporting Biden&#39;s initiative. Samsung to create 17K jobs &amp; boost US chip production.

Samsung Secures $6.4B from US for Texas Chip Factory After Nvidia Supplier TSMC&#39;s Breakthrough

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Apple saw nearly a 10% drop in iPhone shipments in Q1 2024, contrasting with a 7.8% increase in global smartphone shipments, amid rising competition and challenges in China, despite dominating the U.S. market and introducing the iPhone 15 series.

Apple&#39;s iPhone Shipments Dip 10% While Overall Market Grows 7.8%, Samsung Reclaims Top Spot

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<a href="https://www.digitimes.com/news/a20240424PD207/hbm-price-market-competition-samsung-sk-hynix-tsmc.html?chid=10" title="https://www.digitimes.com/news/a20240424PD207/hbm-price-market-competition-samsung-sk-hynix-tsmc.html?chid=10">https://www.digitimes.com/news/a20240424PD207/hbm-price-market-competition-samsung-sk-hynix-tsmc.html?chid=10</a>

'HBM Prices Likely To Fall In 2H24 Due To Intensified Market Competition' - DigiTimes

Samsung Group, based in South Korea, is implementing a six-day workweek for its executives across all units as an emergency measure to address business uncertainties exacerbated by currency depreciation, rising oil prices and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38272906/imf-expects-lower-interest-rates-unless-middle-east-conflict-escalates-there-will-b">high borrowing costs. </a>
This decision follows disappointing results in 2023, especially in Samsung Electronics Co. Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>), prompting a need to reevaluate business strategies in light of geopolitical risks like the Russia-Ukraine conflict and tensions in the Middle East.
See Also:<a href="https://www.benzinga.com/government/24/04/38249052/samsung-secures-6-4b-from-us-for-texas-chip-factory-after-nvidia-supplier-tsmcs-breakthrough"> Samsung Secures $6.4B from US for Texas Chip Factory After Nvidia Supplier TSMC&#8217;s Breakthrough</a>
<a href="https://www.kedglobal.com/corporate-strategy/newsView/ked202404180009">According</a> to The Korea Economic Daily, an executive from Samsung Group stated: "Considering that performance of our major units, including Samsung Electronics Co., fell short of expectations in 2023, we are introducing the six-day workweek for executives to inject a sense of crisis and make all-out efforts to overcome this crisis."
Executives from various divisions such as Samsung Display Co., Samsung Electro-Mechanics Co. and Samsung SDS Co. will adopt the new workweek as early as this week. Financial services firms under Samsung Group are likely to follow suit soon. 
While executives from certain units have been voluntarily working six days a week since the start of the year, non-executive employees will maintain a five-day workweek.
In 2023, Samsung Electronics reported a significant operating loss in its semiconductor business, which accounts for about 80% of its earnings. Despite this, the company signaled a potential turnaround with a substantial surge in preliminary operating profit in the first quarter of this year. 
Challenges do persist, including currency depreciation, rising oil prices and competition from domestic rivals like SK Hynix Inc. in the high bandwidth memory market.
The decision to shift to emergency mode aligns with a broader trend among South Korean conglomerates, as seen with SK Group reintroducing Saturday gatherings for chief executives in January. Other conglomerates such as LG Corp.&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LGCOF#OTC">LGCOF</a>) LG Chem Ltd. and Lotte Chemical Corp. are also undergoing restructuring efforts to navigate industry downturns.
The outcomes of recent general elections raise uncertainties about proposed business-friendly measures, highlighting the need for proactive strategies to navigate evolving economic and political landscapes.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/04/38217484/samsung-goes-big-in-america-44b-chip-plant-reportedly-planned-in-texas">Samsung Goes Big In America: $44B Chip Plant Reportedly Planned In Texas</a>
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Samsung's New Strategy: 'Inject A Sense Of Crisis ... To Overcome Crisis' With 6-Day Executive Workweeks

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Traders Circulate Report Samsung To Pay $142M For Infringing Phone Patents

The U.S. government is awarding&nbsp;Samsung Electronics Co&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) up to $6.4 billion to expand its chip-making operations in Taylor, Texas. This is part of a broader Biden administration initiative to rejuvenate semiconductor manufacturing in the United States.&nbsp;
This grant will support Samsung in increasing its investment in the region to about $45 billion, enabling the construction of a second chip-making factory, an advanced chip-packaging facility, and enhancing research and development capabilities.&nbsp;
This effort more than doubles Samsung&#8217;s initial commitment in 2021 for a chip-making plant in Taylor and aligns with the objectives of the 2022 Chips Act, which allocates $39 billion in manufacturing grants to bolster domestic chip production, the Wall Street Journal&nbsp;<a target="_blank" href="https://www.wsj.com/tech/samsung-electronics-gets-6-4-billion-for-texas-chip-plants-06dafea9?mod=tech_lead_story" rel="noreferrer noopener">reports</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37651170/samsung-shifts-gears-with-new-chip-tech-to-compete-in-nvidias-ai-chip-dominance" rel="noreferrer noopener">Samsung Takes Steps To Revamp Chip Manufacturing To Align With Nvidia&#8217;s AI Requirements: Report (UPDATED)</a>
Samsung&#8217;s plans include creating 17,000 construction jobs and 4,500 manufacturing positions, contributing significantly to the U.S. aim of restoring its prominence in the global semiconductor industry, which has seen its production share decline from over a third in the 1990s to about 12% in 2020.&nbsp;
The investment is set to produce some of the industry&#8217;s most advanced chips starting in 2026 and 2027. It will bolster the U.S.&#8217;s capacity in AI computing and other critical areas, aiming to achieve about 20% of the world&#8217;s production of the most advanced logic chips by 2030.
Last week, reports indicated that&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) supplier&nbsp;Taiwan Semiconductor Manufacturing Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38179645/taiwan-semi-clocks-double-digit-q1-revenue-growth-eyes-robust-2024-amid-ai-boom" rel="noreferrer noopener">increased its investment</a>&nbsp;in the U.S. by more than 60% to $65 billion, with support from a $6.6 billion federal grant and $5 billion in loans, facilitating the production of cutting-edge 2-nanometer chips.&nbsp;
Additionally, the company established a goal for 60% local procurement in Japan, signaling a major push for global expansion.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38084804/nvidia-supplier-sk-hynix-bets-3-87b-on-us-chip-future-scores-win-for-bidens-supply-chain-goals" rel="noreferrer noopener">Nvidia Supplier SK Hynix Bets $3.87B On US Chip Future, Scores Win For Biden&#8217;s Supply Chain Goals</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Samsung Secures $6.4B from US for Texas Chip Factory After Nvidia Supplier TSMC's Breakthrough

<a href="https://www.digitimes.com/news/a20240415PD208.html" title="https://www.digitimes.com/news/a20240415PD208.html">https://www.digitimes.com/news/a20240415PD208.html</a>

DigiTImes Reported Samsung Executives Visited Taiwan And TSMC In Secret For HBM Collaboration

-Yonhap&nbsp;
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<a href="https://en.yna.co.kr/view/AEN20240415003800315?section=national/diplomacy" title="https://en.yna.co.kr/view/AEN20240415003800315?section=national/diplomacy">https://en.yna.co.kr/view/AEN20240415003800315?section=national/diplomacy</a>

U.S. To Provide $6.4B In Chips Act Grants To Samsung Electronics

In the first quarter of 2024,&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reportedly <a href="https://www.benzinga.com/government/24/03/37941515/apples-iphone-sales-faces-sharp-decline-in-china-amid-rising-competition">experienced a significant decline </a>in iPhone shipments, while its Android competitors saw a rise.
What Happened: Apple&#8217;s iPhone shipments fell by&nbsp;nearly 10% in the first&nbsp;quarter. The global smartphone market, however, saw a 7.8% increase in shipments, reaching 289.4 million units, <a href="https://www.bloomberg.com/news/articles/2024-04-15/apple-s-iphone-shipments-plunge-10-as-android-rivals-rise?srnd=technology-vp">reported</a> Bloomberg, citing a report by IDC. 
Samsung Electronics Co.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) reclaimed the top position, while budget-focused brand Transsion&nbsp;saw an 85% surge in shipments.
<a href="https://www.benzinga.com/government/24/03/37479073/apples-iphone-sales-dip-24-in-china-falls-to-fourth-place-behind-vivo-and-huawei">Apple&#8217;s struggles in China</a>, the largest smartphone market globally, have impacted its overall performance. According to IDC&#8217;s preliminary figures, the company shipped five million fewer iPhones than the previous year.
See Also:&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/04/38208715/here-are-5-funky-things-you-probably-didnt-know-your-iphone-can-do?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Here Are 5 Funky Things You Probably Didn&#8217;t Know Your iPhone Can Do</a>
&#8220;The smartphone market is emerging from the turbulence of the last two years both stronger and changed,&#8221; said&nbsp;Nabila Popal, research director at IDC. &#8220;While the top two players both saw negative growth in the first quarter, it seems Samsung is in a stronger position overall than they were in recent quarters.&#8221;
Why It Matters: Apple&#8217;s iPhone has been a <a href="https://www.benzinga.com/24/02/36893988/iphone-15-helps-apple-grab-64-us-market-share-in-q4-android-declines-report">dominant force in the U.S. smartphone market</a>, with a 64% share in the fourth quarter of 2023. The launch of the iPhone 15 in September 2023 led to an 8% year-on-year growth in the U.S. smartphone market, boosting Apple&#8217;s sales.
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However, a February 2024 report revealed that despite Apple CEO Tim Cook&#8217;s claim of 99% customer satisfaction, the premium variant of the iPhone 15, the iPhone 15 Pro, was experiencing a <a href="https://www.benzinga.com/news/24/02/36907773/despite-tim-cooks-99-satisfaction-boast-survey-reveals-customers-least-happy-with-this-iphone-15-mod">decline in customer satisfaction ratings</a>.
Moreover, in January, analyst Ming-Chi Kuo of TF International Securities also predicted that the Cupertino, California-based tech giant might <a href="https://www.benzinga.com/news/24/01/36861159/apple-analyst-predicts-foldables-huawei-and-ai-pose-threat-to-iphone-throne-in-2024">face a significant drop in iPhone shipments</a> by 2024 due to the rise in popularity of foldable phones, Huawei Technologies&#8217; comeback in China, and innovative phone designs that incorporate generative artificial intelligence.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38239045/elon-musk-reacts-to-old-clip-of-steve-jobs-tesla-seeks-apples-aid-and-small-browsers-challenge-tech?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Old Clip Of Steve Jobs, Tesla Seeks Apple&#8217;s Aid And Small Browsers Challenge Tech Giants: This Week In Appleverse</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Apple's iPhone Shipments Dip 10% While Overall Market Grows 7.8%, Samsung Reclaims Top Spot

South Korean tech giant Samsung Electronics Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) is set to announce a substantial $44 billion investment in U.S. chipmaking, possibly as early as next week.
What Happened: The world&#8217;s leading memory-chip manufacturer is anticipated to disclose the project in Taylor, Texas, in the presence of Commerce Secretary Gina Raimondo, <a href="https://www.bloomberg.com/news/articles/2024-04-12/samsung-to-unveil-44-billion-us-chip-push-as-soon-as-next-week">reported</a> Bloomberg, citing people familiar with the matter. 
Samsung has obtained over $6 billion in U.S. government grants for the investment, which has ballooned to a total of $44 billion spread over several years.
This investment aligns with Washington&#8217;s larger strategy to repatriate semiconductor production to the U.S. The Biden administration is utilizing the 2022 Chips and Science Act to invigorate American chipmaking, which has seen production drift to Asia over the past decades.
The Chips Act, which earmarked $39 billion in grants plus $75 billion in loans and guarantees, has already catalyzed over $200 billion in private semiconductor investments. It is yet to be determined whether Samsung will receive loan awards in addition to the $6 billion-plus in government grants.
See Also: <a href="https://www.benzinga.com/news/24/04/38133688/sundar-pichais-google-grapples-with-ai-mishaps-amid-worker-criticism-yet-holds-title-of-americas-mos?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Sundar Pichai&#8217;s Google Grapples With AI Mishaps Amid Worker Criticism, Yet Holds Title Of America&#8217;s Most Innovative Company</a>
The announcement will initiate a due diligence period, during which Samsung and the Commerce Department will finalize the terms of their agreement. The funds will be disbursed as the project reaches key construction and production milestones.
Why It Matters: Earlier this year, Samsung took steps to revamp its chip technology to better align with the requirements of <a href="https://www.benzinga.com/news/24/03/37651170/samsung-shifts-gears-with-new-chip-tech-to-compete-in-nvidias-ai-chip-dominance">AI chip industry leaders</a>, including NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Micron Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>).
In February, Samsung announced a collaboration with Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) to deliver the next-generation Arm Cortex-X CPU using <a href="https://www.benzinga.com/news/24/02/37218987/samsung-and-arms-latest-ai-chip-collaboration-a-new-era-for-mobile-computing">Samsung Foundry's latest Gate-All-Around</a> (GAA) process technology.
Despite a projected significant rise in its first-quarter operating profit, Samsung&#8217;s stock has underperformed due to HBM. Furthermore, investor interest in Samsung has been sparked by a <a href="https://www.benzinga.com/news/24/04/38145895/samsungs-block-deal-sparks-investor-interest-lee-boo-jin-offloads-stake-in-330m-transaction">recent block deal</a>, where Lee Boo-jin offloaded a stake in a $330 million transaction.
Read Next: <a href="https://www.benzinga.com/news/24/04/38111017/tesla-ceo-elon-musk-disagrees-with-nvidias-jensen-huang-that-anyone-can-make-their-own-neural-networ?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Disagrees With Nvidia&#8217;s Jensen Huang That Anyone Can Make Their Own Neural Network: &#8216;It&#8217;s Insanely Hard&#8217;</a>
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Samsung Goes Big In America: $44B Chip Plant Reportedly Planned In Texas

BlackBerry Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bb#NYSE">BB</a>) was once the leader in the smartphone segment in the mid-2000s when they were known as Research In Motion. Their BlackBerry smartphones had built-in physical keyboards and a trackball utilizing SMS technology. Its users could be identified by clicking away at the tiny keyboards and small screens throughout the day. They ushered in the early days of the smartphone era.
<h2>The Smartphone Revolution Passes By BlackBerry</h2>
The advent of Apple Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) iPhones and Samsung Electronics Co. Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssnlf#OTC">SSNLF</a>) Galaxy smartphones eventually took over the market with on-screen keyboards, larger screens and lighter sleek designs with infinite applications. Research in Motion changed its name and identity to BlackBerry, ditched its clunky smartphones and transitioned into a software company focused on enterprise cybersecurity, software licensing and Internet-of-Things (IoT) in the computer and technology sector. Needless to say, the competition has been stiff, especially against giants such as Palo Alto Networks Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/panw#NASDAQ">PANW</a>) and Fortinet Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ftnt#NASDAQ">FTNT</a>).
<h2>Transitioning from Hardware to Software</h2>
While BlackBerry continued to lose market share among consumers, its QNX operating system was still very respected for its exceptional security features, including encrypted messaging, threat detection and secure emails. It&#39;s one of the main reasons the United States Department of Defense (DoD) standardized BlackBerry devices over iPhones as a protocol for its employees. BlackBerry devices were the preferred devices among government agencies to protect sensitive information from espionage and cyber threats.
This helped transition the company to ditch the hardware and embrace the software model to further claw out a niche in the mobile cybersecurity segment. They hold numerous patents in mobile security and communication protocols. In fact, Research in Motion was notorious for never-ending litigation defending its patents, often perceived as the original &quot;patent troll.&quot;&nbsp;
<h2>From Patent Troll to MDM and UEM Solutions Provider </h2>
BlackBerry ditched the hardware in 2016 and sought to establish itself in the mobile device management (MDM) and unified endpoint management (UEM) segment. The company even found itself licensing its data analysis and embedded systems to the vehicle industry. The company has developed its artificial intelligence (AI) powered Cylance cybersecurity solution, which it claims has prevented 133% more attacks, performing 13X faster while utilizing 20X less system overhead than the competition. Its IoT business has also emerged as a promising growth engine. The company has been struggling to return to its glory days as it has failed to achieve consistency with its results.
<img alt="BB daily descending triangle pattern" src="https://www.marketbeat.com/logos/articles/med_20240407134726_chartzy-bb.jpg" style="height:799px; width:915px" />
<h2>Daily Descending Triangle Pattern</h2>
The daily candlestick chart on BB illustrates a descending triangle pattern. The descending (falling) trendline formed at $3.63 on January 23, 2024, capping bounces at lower highs towards the flat-bottom lower trendline at $2.55. The daily relative strength index (RSI) has stalled around the 50-band. The triangle failed a breakdown attempt on March 19, 2024, as shares slingshot higher off the $2.46 swing low to reject the breakout attempt on April 4, 2024, as shares fell back under the descending trendline. Pullback supports are at $2.66, $2.55, $2.34 and $2.20.
Improving Fundamentals 
BlackBerry reported fiscal Q4 2024 EPS of 3 cents, beating analyst expectations for a loss of 4 cents by 7 cents. Revenues grew 14.6% to $173 million, beating $150.47 million consensus estimates. Its IoT division&#39;s QNX royalty backlog rose to $815 million.
<h2>Financial Metrics for the Quarter</h2>
The shining highlight was the all-time quarterly record of $66 million achieved in IoT revenue, which jumped 25% YoY. IoT gross margins were 85%. Cybersecurity revenues rose 5% YoY to $92 million, with a gross margin of 65%. Cybersecurity ARR rose sequentially by 3% to $280 million. Licensing revenues were $15 million.
<h2>Momentum Cut Short by Lowered Guidance </h2>
While BlackBerry&#39;s fiscal Q4 2024 report was inspiring, its momentum was again cut short with downside guidance. The company expects a fiscal Q1 2025 EPS loss of 6 cents to 4 cents versus consensus estimates for a loss of 3 cents. Revenue expectations also fell short, with expectations between $130 million and $138 million versus $149.08 million consensus estimates. Full-year 2025 revenues are expected to be between $588 million and $612 million, falling short of the consensus estimates of $627.42 million.
<h2>Two Steps Forward, One Step Back</h2>
BlackBerry appointed its Cybersecurity division president, John Giamatteo, as its new CEO on December 15, 2023. Giamatteo was formerly president and Chief Revenue Officer of cybersecurity giant McAfee and COO at AVG Technologies. The new CEO sparked some positive sentiment, but plans for a spin-off of its IoT division caused shares to topple. On April 3, 2024, a former senior BlackBerry executive filed a lawsuit against Giamatteo and BlackBerry, alleging sexual harassment along with instances with other women. The company denies the claims, stating, &quot;BlackBerry and Mr. Giamatteo believe that these allegations are without merit and intend to defend against them vigorously.&quot;
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/blackberry-gains-on-iot-growth-but-sours-on-guidance-cut/"> BlackBerry Gains on IoT Growth, but Sours on Guidance Cut </a>&quot; first appeared on MarketBeat.

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BlackBerry Gains on IoT Growth, but Sours on Guidance Cut

Around 5.25 million&nbsp;Samsung Electronics Co&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) shares are up for sale in a block deal valued at approximately $330 million.&nbsp;
According to reports citing anonymous investment banking sources, Lee Boo-jin, sister to&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/02/36935104/samsungs-jay-y-lees-court-win-fuels-companys-ambitions-sharpens-nvidia-rivalry" rel="noreferrer noopener">Samsung Electronics Chairman</a>&nbsp;Jay Y. Lee, is the seller.&nbsp;
The shares are being offered at a price range of 83,700 won to 84,500 won each, representing a discount of up to 0.95% off Samsung&#8217;s closing price on Monday of 84,500 won, Reuters cites a term sheet.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37218987/samsung-and-arms-latest-ai-chip-collaboration-a-new-era-for-mobile-computing" rel="noreferrer noopener">Samsung and Arm&#8217;s Latest AI Chip Collaboration: A New Era for Mobile Computing</a>
According to the term sheet, investor orders received before the launch on Monday were already sufficient to cover the entirety of the sale.
This sale comes after a January block deal in which Lee Boo-jin and her mother and sister divested approximately 0.5% of their stake in Samsung Electronics.&nbsp;
The sale, totaling 2.17 trillion won ($1.6 billion), was part of an effort to gather funds necessary to pay a substantial inheritance tax bill following the death of Samsung&#8217;s patriarch, Lee Kun-hee, in 2020.
<a target="_blank" href="https://www.benzinga.com/news/24/03/37651170/samsung-shifts-gears-with-new-chip-tech-to-compete-in-nvidias-ai-chip-dominance" rel="noreferrer noopener">Prior reports indicated</a>&nbsp;Samsung transitioning to a new chip-manufacturing method, a move previously championed by its rival&nbsp;SK Hynix, to strengthen its presence in the premium chip sector vital for artificial intelligence applications.&nbsp;
This strategic pivot is designed to make Samsung a more formidable competitor, potentially capturing business from AI chip giants like&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/04/38089624/nvidia-to-benefit-from-sk-hynixs-new-3-9b-indiana-facility-focused-on-high-bandwidth-memory-chips" rel="noreferrer noopener">Nvidia to Benefit from SK Hynix&#8217;s New $3.9B Indiana Facility Focused on High-Bandwidth Memory Chips</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Samsung

Samsung's Block Deal Sparks Investor Interest, Lee Boo-jin Offloads Stake in $330M Transaction

Samsung Electronics Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) is projected to witness a significant rise in its first-quarter operating profit, but its stock has underperformed due to HBM.
What Happened: The South Korean tech giant&#8217;s first-quarter operating profit is expected to reach 6.6 trillion won ($4.9 billion), marking a tenfold increase from the same period last year. This surge indicates a recovery in the memory semiconductor market, which has been in a slump for the past two years, Reuters reported on Wednesday.
Analyst Kim Roko from Hana Securities pointed out that Samsung&#8217;s stock has underperformed due to HBM, despite the company&#8217;s efforts in this area. &#8220;Samsung is working hard on HBM, but nothing is visible yet…Compared to competitors, Samsung stock has underperformed due to HBM,&#8221; said Roko.
&#8220;It may be difficult to increase market share with the 8-layer HBM3E currently being released, but no company has yet received approval for the 12-layer version expected near year-end. I think Samsung may pass on what it has not been able to do and win with more advanced products.&#8221;
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38067786/jim-cramer-slams-cathie-woods-bold-claims-of-80-vehicles-being-ev-in-a-few-years-painful?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Slams Cathie Wood&#8217;s &#8216;Bold&#8217; Claims Of 80% Vehicles Being EV In A Few Years: &#8216;Painful&#8217;</a>
With a rebound in global consumer demand for electronics, tech companies are starting to replenish their chip supplies. The average selling price for DRAM chips rose by over a fifth in the three months to March, as per Bernstein analysts.
Most of Samsung&#8217;s operating profit comes from semiconductors, and it is expected to more than double its earnings this year, according to LSEG analysts. AI customers, such as Nvidia, are driving demand for more specialized and customized storage chips, which could stabilize the historically volatile market.
JPMorgan analysts predict that Samsung&#8217;s HBM revenue could reach $13 billion in 2025, accounting for 13% of its total semiconductor sales. This could help cushion market volatility in the long term.
Why It Matters: In February, Samsung introduced <a href="https://www.benzinga.com/24/02/37328827/samsungs-latest-hbm3e-12h-memory-chip-is-said-to-fuel-ai-systems-with-superior-performance-and-flexi">a new memory </a>chipset to revolutionize the AI industry. In March, <a href="https://www.benzinga.com/markets/equities/24/03/37840487/samsung-stock-surges-over-5-following-nvidias-interest-in-its-high-bandwidth-memory-chips">Nvidia showed interest</a> in Samsung&#8217;s next-generation high-bandwidth memory (HBM) chips, causing a significant surge in Samsung&#8217;s stock. 
Nvidia&#8217;s CEO, Jensen Huang, predicted that the current "<a href="https://www.benzinga.com/news/24/03/37838508/nvidias-jensen-huang-foresees-ai-computing-ramp-to-continue-for-years-were-in-the-beginning">AI computing ramp</a>" is just the beginning and is expected to continue for several years. This series of events underscores the potential of AI in reshaping the memory chip market.
Read Next: <a href="https://www.benzinga.com/news/24/04/38043705/don-lemon-show-views-tank-by-over-90-after-elon-musk-interview-on-x-platform?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Don Lemon Show&#8217; Views Tank By Over 90% After Elon Musk Interview On X Platform</a>
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Equities

With HBM Weighing Down, Could AI Propel Samsung's Stock Performance?

As the tech industry navigates through a period of fluctuating chip prices, Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) has emerged with a forecast that signals a robust first-quarter performance, potentially setting a positive tone for its financial year. This comes at a time when Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is anticipating a drop in its revenue for the first time in a decade.
What Happened: Samsung Electronics is expecting a significant increase in its first-quarter operating profit, with a projection exceeding 10 times the previous year&#8217;s figure, as chip prices see a recovery, Reuters reported on Friday.
The anticipated profit surge to 6.6 trillion won ($4.89 billion) marks the highest operating profit for the company since the third quarter of 2022, a 931% jump from the same quarter last year. This performance surpasses the 5.7 trillion won ($4.21 billion) LSEG SmartEstimate and comes amid a rebound in memory chip prices.
Meanwhile, Samsung&#8217;s American rival Apple expects its revenue and earnings per share (EPS) in the March 2024 quarter to drop for the first time in a decade due to declining iPhone sales. Analysts have pointed out that Apple's struggles in China are <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37953136/apples-struggles-in-china-are-less-about-apple-and-more-about-a-much-bigger-geopoli" target="_blank" rel="noreferrer noopener">less about the company</a> and involve a much bigger &#8220;geopolitical kerfuffle.&#8221;
Despite the positive guidance, Samsung shares fell by 1.3% early on Friday, reflecting a broader market decline. Investors remain cautious, awaiting further details on the company&#8217;s high-end memory chip business, which has been trailing behind its competitors.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38062216/bitcoin-ethereum-dogecoin-dip-amid-high-selling-pressure-analyst-says-king-crypto-will-not?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Dip Amid High Selling Pressure: Analyst Says King Crypto Will Not See Highs &#8216;Unless $69K Breaks&#8217;</a>
The rise in chip prices is attributed to a 20% increase in DRAM chip prices and a 23% to 28% hike in NAND flash chip prices from the previous quarter, as reported by TrendForce. The demand for memory chips, particularly for AI applications, has driven Samsung&#8217;s shares up by 34% over the past year, outperforming the broader market&#8217;s 10% gain.
Why It Matters: <a href="https://www.benzinga.com/news/24/04/38084804/nvidia-supplier-sk-hynix-bets-3-87b-on-us-chip-future-scores-win-for-bidens-supply-chain-goals">Samsung has lagged behind SK Hynix</a> in the high-bandwidth memory (HBM) market for a long time. Moreover, the recent<a href="https://www.benzinga.com/24/04/38086191/taiwans-earthquake-puts-the-worlds-semiconductor-supply-chain-to-the-test"> 7.2-magnitude earthquake in Taiwan </a>may further tighten semiconductor supply, potentially leading to increased memory chip prices and boosting Samsung&#8217;s earnings in the second quarter. 
Despite the drawbacks, the successful launch of the Galaxy S24 smartphones has likely contributed to a solid profit in Samsung&#8217;s mobile business, with an 8% increase in smartphone shipments and a 30% rise in the average selling price, according to Eugene Investment &amp; Securities.
Samsung had previously pointed to <a href="https://www.benzinga.com/news/24/04/38104101/blame-google-not-us-samsung-points-finger-at-search-giant-for-galaxy-s23-touchscreen-glitch">Google as the source of touchscreen issues</a> in its Galaxy S23 devices, deflecting concerns about hardware defects. Moreover, the company has been actively revamping its chip manufacturing technology to better compete in the AI chip market, as seen in its strategic update to align <a href="https://www.benzinga.com/news/24/03/37651170/samsung-shifts-gears-with-new-chip-tech-to-compete-in-nvidias-ai-chip-dominance">with industry leaders like Nvidia</a>. 
Samsung is set to release its detailed earnings on Apr. 30, providing a clearer picture of its financial performance and market position.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38085675/were-fd-says-rich-dad-poor-dad-author-robert-kiyosaki-because-fed-chair-powell-fina?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;We&#8217;re F&#8217;d,&#8217; Says &#8216;Rich Dad Poor Dad&#8217; Author Robert Kiyosaki Because Fed Chair Powell &#8216;Finally Admitted Inflation Is Winning&#8217;</a>
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General

As Apple Stares At First Revenue Drop In A Decade, Samsung Predicts Stellar 10-Fold Q1 Profits Amid Surging Chip Prices

Samsung Electronics Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>), the South Korean tech behemoth, has confirmed the existence of a touchscreen problem in its Galaxy S23 devices running on One UI 6.1. The company has attributed the glitch to Alphabet Inc&#8217;s Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>).
What Happened: According to a Samsung blog post, the smartphone maker initiated the One UI 6.1 update for the Galaxy S23 series in the latter part of March. After the update, many users reported issues with the touchscreen, with devices not accurately registering touch inputs.
While Samsung has now admitted to the problem, the company has intriguingly blamed Google for it. Samsung claims that the issue originates from Google&#8217;s Discover feed, which is located to the left of the leftmost home screen.
See Also: <a href="https://www.benzinga.com/news/24/04/38041715/elon-musk-says-all-nations-above-a-certain-per-capita-income-are-committing-demographic-suicide?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says All Nations &#8216;Above A Certain Per Capita Income&#8217; Are Committing &#8216;Demographic Suicide&#8217;</a>
Samsung has conveyed that Google is cognizant of the problem and is actively working on a solution. Meanwhile, Samsung has suggested a temporary workaround for users affected by this issue. Users are recommended to clear the data of the Google app and reboot their devices, which should reinstate the touchscreen&#8217;s functionality.
Google is anticipated to fix the issue via an update to the Google app. Users are urged to activate automatic updates in the Play Store or manually update all apps to ensure they receive the fix as soon as it becomes available.
Why It Matters: This incident underscores the intricate interdependencies between device manufacturers and software providers in the tech industry. While Samsung is the producer of the Galaxy S23 series, the devices rely heavily on Google&#8217;s Android operating system and its associated apps. Any glitches in these apps can directly impact the functionality of the devices, as seen in this case. This situation also highlights the importance of timely software updates and the need for effective communication between tech companies to resolve issues promptly, ensuring a smooth user experience.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:<a href="https://www.benzinga.com/markets/equities/24/04/38050032/jeff-bezos-convinced-his-siblings-to-invest-10k-each-in-his-online-startup-called-amazon-heres-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&nbsp;</a><a href="https://www.benzinga.com/markets/equities/24/04/38084756/why-is-tim-cook-cashing-out-apple-ceos-33m-stock-sale-fuels-speculation" target="_blank" rel="noreferrer noopener">Why Is Tim Cook Cashing Out? Apple CEO&#8217;s $33M Stock Sale Fuels Speculation</a>
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GOOG

Blame Google, Not Us — Samsung Points Finger At Search Giant For Galaxy S23 Touchscreen Glitch

South Korea&#8217;s&nbsp;SK Hynix&nbsp;announced&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/03/37942967/nvidia-supplier-sk-hynix-to-launch-4b-semiconductor-facility-in-indiana-aims-to-revitalize-us-semico" rel="noreferrer noopener">plans to invest</a>&nbsp;$3.9 billion in an advanced chip-packaging facility in West Lafayette, Indiana, marking a significant development for the Midwestern states in the American semiconductor industry.&nbsp;
This new facility, focusing on mass-producing&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37954853/nvidia-set-to-benefit-as-sk-hynix-targets-double-digit-dram-sales-from-ai-chips-in-2024" rel="noreferrer noopener">high-bandwidth memory</a>&nbsp;(HBM) crucial for powering&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) GPUs that are instrumental in AI systems training, like ChatGPT, aims to start mass production in the second half of 2028, creating over 1,000 jobs.&nbsp;
The investment underscores the region&#8217;s growing appeal in the semiconductor sector, fueled by the Biden administration&#8217;s efforts to restore America&#8217;s global standing in chip manufacturing and the incentives from the $53 billion Chips Act, the Wall Street Journal&nbsp;<a target="_blank" href="https://www.wsj.com/tech/nvidia-partner-bets-3-9-billion-on-the-midwests-chip-making-potential-2a960ac6?mod=tech_lead_pos3" rel="noreferrer noopener">reports</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/01/36850517/nvidia-eyes-future-tech-secures-high-bandwidth-memory-for-2025-invests-in-ai-chatbot-developer-kore" rel="noreferrer noopener">Nvidia Eyes Future Tech: Secures High-Bandwidth Memory For 2025, Invests In AI Chatbot Developer Kore.ai</a>
Indiana has extended up to $554 million in tax rebates and additional incentives to SK Hynix, highlighting the strategic partnership with Purdue University to foster innovation and job creation.&nbsp;
SK Hynix&#8217;s move is part of a broader trend of semiconductor companies seeking geographic diversity and resilience by expanding beyond traditional hubs like Texas, California, and Oregon.&nbsp;
Factors such as the proximity to top engineering universities, lower overall costs, and untapped labor markets in the Midwest have become key attractions.
According to CEO Kwak Noh-Jung, SK Hynix anticipates that its HBM chips, designed for AI chipsets, will account for a significant double-digit percentage of its DRAM chip sales in 2024.&nbsp;
In March, the company started commercializing its next-generation advanced HBM chips, with Nvidia likely being the initial recipient of SK Hynix&#8217;s shipments.
SK Hynix&#8217;s move to Indiana represents a&nbsp;<a target="_blank" href="https://www.benzinga.com/government/23/12/36408195/south-koreas-semiconductor-surge-samsung-and-sk-hynix-shatter-records-with-unprecedented-production" rel="noreferrer noopener">significant step in</a>&nbsp;the U.S.&#8217;s efforts to secure a leading role in semiconductor manufacturing, joining other Asian chip giants like&nbsp;Samsung Electronics Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) and&nbsp;Taiwan Semiconductor Manufacturing Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) in establishing a significant manufacturing presence in the U.S.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Nvidia to Benefit from SK Hynix's New $3.9B Indiana Facility Focused on High-Bandwidth Memory Chips

<a href="https://ptacts.uspto.gov/ptacts/public-informations/petitions/1550171/download-documents?artifactId=7UWM_s7uLZ-cCBVwaU0x6ys99oNZY5XlOqgBdOOf8gKDdNP4Uh5w35Y">https://ptacts.uspto.gov/ptacts/public-informations/petitions/1550171/download-documents?artifactId=7UWM_s7uLZ-cCBVwaU0x6ys99oNZY5XlOqgBdOOf8gKDdNP4Uh5w35Y</a>
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NLST

Netlist Loses Two IPR Patent Trials Related To '060 And '160 Patents Filed By Samsung And Micron As All Netlist Patent Claims Have Been Determined To Be Unpatentable.

Goldman Sachs has made a bold prediction following the launch of NVIDIA Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) latest artificial intelligence chips. The investment bank expects significant growth for the memory chips used in AI systems, which could potentially benefit three major memory chip manufacturers.
What Happened: Goldman Sachs is anticipating a substantial expansion in the total addressable market for high-bandwidth memory (HBM) chips, driven by the demand for Nvidia&#8217;s new Blackwell GPU chips. The bank predicts the market to grow tenfold to $23 billion by 2026, up from $2.3 billion in 2022, <a href="https://www.cnbc.com/2024/03/28/nvidia-launched-powerful-ai-chips-goldman-expects-boost-to-3-stocks.html">reported</a> CNBC.
The three primary beneficiaries of this burgeoning HBM market, as per Goldman Sachs, are SK Hynix, Samsung Electronics Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>), and Micron Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>). The bank also expects these stocks to gain a boost from the market expansion.
Goldman Sachs analysts, led by Giuni Lee, pointed out that the increasing demand for AI servers and the higher memory chip density per GPU are the key factors driving their optimistic outlook. They also highlighted the challenges faced by the major suppliers, such as larger chip sizes and lower production yields for HBM compared to conventional DRAM memory chips, which are likely to keep the supply tight in the near future.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37950732/dawkoins-skyrockets-400-in-a-single-day-following-richard-dawkins-birthday-celebration-dog?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dawkoins Skyrockets 400% In A Single Day Following Richard Dawkins&#8217; Birthday Celebration — Dogecoin, Shiba Inu Left In The Dust</a>
Why It Matters: The launch of Nvidia&#8217;s new AI chips comes at a time when the company&#8217;s stock has been the center of attention. The stock has been on a tear since the start of 2023, fueled by the explosion of interest in artificial intelligence sparked by OpenAI&#8216;s ChatGPT. However, concerns have been raised about the <a href="https://www.benzinga.com/markets/equities/24/03/37814954/ai-boom-or-yolo-bust-nvidia-options-frenzy-ahead-of-gtc-raises-bubble-fears-sparks-2021-meme-sto">sustainability of this growth</a>, with some suggesting that it might be fueled by reckless speculation.
Despite these concerns, investor optimism has hit a two-year high, with the onset of the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37850165/investor-optimism-hits-2-year-high-yet-division-over-ai-magnificent-7-bubble-emerge">Great Rotation</a> potentially underway. The future of technology, particularly the significance of computing power, has been a topic of interest, with some experts suggesting that &#8220;compute&#8221; will be the &#8220;<a href="https://www.benzinga.com/news/24/03/37841813/compute-not-fiat-or-bitcoin-will-be-the-currency-of-the-future-says-sam-altman-as-nvidias-jensen-hua">currency of the future</a>&#8221; instead of fiat or cryptocurrency.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37905517/book-of-meme-outperforms-dogecoin-killer-shiba-inu-rich-dad-poor-dad-author-says-buy-bitco?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Book Of Meme Outperforms &#8216;Dogecoin Killer&#8217; Shiba Inu, &#8216;Rich Dad Poor Dad&#8217; Author Says Buy Bitcoin, Gold Amid China&#8217;s Economic Woes And More: This Week In Cryptocurrency</a>
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Goldman Sachs Bullish On Nvidia's New AI Chips, Predicts Major Growth For These 3 Stocks

<a href="https://news.samsung.com/us/smartthings-philips-hue-expand-partnership-elevate-tv-centered-home-experiences/">https://news.samsung.com/us/smartthings-philips-hue-expand-partnership-elevate-tv-centered-home-experiences/</a>
Users can create richer multi-device entertainment routines via SmartThings, including the Philips Hue Sync TV App
<a href="https://partners.smartthings.com/">SmartThings</a>, Samsung's global connected living platform, today announces its expanded partnership with Philips Hue, global leader in smart lighting, aimed at revolutionizing how users interact with their home entertainment systems. This collaboration introduces a series of exclusive updates and greater control of the Philips Hue Sync TV App through <a href="https://partners.smartthings.com/">SmartThings</a>, designed to elevate home automation and enhance control of light sync.
Enhanced Integration with the SmartThings App
At CES 2024, SmartThings introduced features that gave new meaning to having a TV-centered smart home. This collaboration amplifies the TV's role as the core of the smart home experience for families. Users gain seamless control over the Philips Hue Sync TV App from the SmartThings mobile application, unlocking unparalleled convenience and immersion.
The Philips Hue Sync TV App synchronizes lighting with the TV screen, elevating viewing or gaming experiences by adding immersive light experiences to complement what you're watching/create an atmosphere. With <a href="https://partners.smartthings.com/">SmartThings</a>, users can adjust the brightness of their Philips Hue lights, switch between Video, Game and Music mode, and even start or stop the light sync—all via their <a href="https://www.samsung.com/us/mobile/?r=true&amp;referrer=usnewsroom">Galaxy mobile device</a> without interrupting their show or gaming session.
This integration revolutionizes the entertainment experience, creating a connected, engaging, and intelligent environment for families to enjoy unforgettable moments together.
Expansion to New Countries and Flexible Payment Options
As part of SmartThings' commitment to global smart home availability, the availability of Philips Hue Sync TV app will extend to additional countries, including Brazil, Hong Kong, Poland, Czech Republic, and Slovakia. This expansion ensures innovative entertainment solutions reach more users worldwide, making the smart home a reality for more users globally.
To provide users with greater flexibility, Philips Hue also introduces a monthly subscription option for the Philips Hue Sync TV App, priced at 2.99 USD/EUR. For users preferring a non-recurring plan, the existing one-time purchase option also remains available at 129.99 USD/EUR.
"We are thrilled to expand our partnership with SmartThings to empower users with greater control over their entertainment experiences," said Jasper Vervoort, Business Leader Philips Hue at Signify. "The integration of Philips Hue Sync TV App into the SmartThings ecosystem allows users to create immersive multi-device entertainment routines, enhancing their smart home experiences like never before."
Release and Compatibility
On the heels of <a href="https://news.samsung.com/us/samsung-2024-tv-audio-products-now-available-pre-order-music-frame/">the 2024 line up</a>, users can seamlessly activate this feature after installing the Philips Hue Sync app on their new TVs. This integration allows users to curate elaborate multi-device Entertainment Routines via <a href="https://partners.smartthings.com/">SmartThings</a>, synchronizing lighting, air purification, and other smart home devices to enhance their TV-watching environment.
"We are excited to continue our collaboration with Philips Hue to bring these transformative features to life," <a href="https://news.samsung.com/us/samsung-partners-in-sustainability-smartthings/">said Mark Benson</a>, Head of SmartThings US. "This partnership underscores our commitment to delivering seamless and innovative solutions that enrich the lives of our users, making their smart home experiences more immersive and enjoyable.
As <a href="https://partners.smartthings.com/">SmartThings</a> continues to push the boundaries of smart home technology, this partnership marks a significant milestone in redefining how users engage with their entertainment systems.
For more information and updates, please visit <a href="https://partners.smartthings.com/partners/philips-hue">https://partners.smartthings.com/partners/philips-hue</a>.

"SmartThings Expands Partnership With Philips Hue To Elevate TV-Centered Home Experiences" - Samsung

Lam Research Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) is reportedly exploring its supply chain diversification amid concerns over the impact of U.S. export controls on its&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/11/35844625/lam-research-asml-lead-surge-in-revenue-from-china-despite-us-trade-curbs" rel="noreferrer noopener">business operations in China</a>.&nbsp;
The company&#8217;s Group Vice President of Global Operations, Karthik Rammohan, visited Hanoi for discussions with Vietnam&#8217;s Prime Minister Pham Minh Chinh, during which the Vietnamese government encouraged Lam Research to commit $1 billion to local production efforts. This initiative is part of Vietnam&#8217;s push to become a more significant player in the semiconductor industry, the Nikkei Asia&nbsp;<a target="_blank" href="https://asia.nikkei.com/Business/Tech/Semiconductors/Lam-Research-eyes-Vietnam-chip-supply-chain-as-China-curbs-bite" rel="noreferrer noopener">reports</a>.
On its official website, the Vietnamese government disclosed plans for Lam Research to collaborate with Seojin, a South Korean company with production facilities in Bac Ninh and Bac Giang provinces—areas known for&nbsp;Samsung Electronics Co., Ltd.&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) extensive phone and semiconductor manufacturing activities.&nbsp;
Despite Seojin&#8217;s reluctance to confirm this partnership, the move signifies Lam Research&#8217;s strategic shift towards minimizing its reliance on China, which accounted for 26% of its income in 2023, a decrease from the previous year, the report added.
Lam Research acknowledged the adverse effects of U.S. export restrictions on its revenues, which could worsen. Despite sourcing materials from eight Vietnamese companies, including the Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)-supported Masan conglomerate, Lam Research has no immediate plans for expansion in Vietnam. Meanwhile, in 2023, Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) reportedly <a href="https://www.benzinga.com/government/23/11/35637540/whats-going-on-with-intel-stock-tuesday" target="_blank" rel="noreferrer noopener">abandoned its plans</a> for further investment in Vietnam, attributing the decision to worries over power supply stability and excessive bureaucracy. 
Previously, industry experts proposed that China&#8217;s strategy of advancing existing orders to circumvent possible future export restrictions might not hold up over the medium term for Lam Research, which has significant exposure to the country. They warned that tighter export regulations could hinder China&#8217;s capacity to sustain its robust growth rates in semiconductor equipment acquisitions.
Previously,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/10/35335386/lam-research-faces-analyst-scrutiny-over-near-term-margin-and-china-demand-uncertainties" rel="noreferrer noopener">analysts remained divided</a>&nbsp;about Lam Research&#8217;s China prospects. Some flagged possibilities of China&#8217;s demand to moderate in upcoming quarters, yet see Lam benefiting from its advances in foundry and logic sectors. At the same time, some expected the company&#8217;s strong performance in China could extend beyond the second half of 2024 into the third quarter, potentially sustaining Lam&#8217;s recovery, which was initiated in Q1.
The stock surged over 94% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Columbia ETF Trust I Columbia Seligman Semiconductor And Technology ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEMI#NYSE">SEMI</a>) and&nbsp;Pacer US Cash Cows Growth ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUL#NYSE">BUL</a>).
Price Action:&nbsp;LRCX shares traded higher by 0.61% at $988.60 premarket on the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

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Lam Research Eyes Vietnam To Diversify Supply Chain Away From China: Report

Samsung Electronics Co. Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) has announced the launch of its 2024 edition of the Frame TV, which is now available for preorders. The company is also offering&nbsp;a free 65-inch Samsung TU690T&nbsp;smart TV with each preorder.
What Happened: The&nbsp;2024 edition of Samsung&#8217;s Frame&nbsp;TV is available in five sizes, ranging from 43 inches to 75 inches, with prices starting at $999. Customers who place a preorder&nbsp;for the 2024 edition of&nbsp;the Frame TV will&nbsp;receive a free 65-inch Samsung&nbsp;TU690T smart TV valued at $450.
The new model boasts several updated features compared to its predecessor, including Pantone validation for all sizes,&nbsp;a curated selection of 20&nbsp;art pieces each month, and enhanced energy efficiency.
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Other features include a dynamic refresh rate, a motion sensor that&nbsp;turns off the TV when&nbsp;no one is in the room, and&nbsp;a 100% color volume that&nbsp;fully utilizes Samsung&#8217;s Quantum Processor 4K. The TV also offers a broad viewing angle and optional magnetically attachable bezels that give it the appearance of&nbsp;a traditional picture frame when&nbsp;hung on a wall.
Why It Matters: Samsung announced this offer at its &#8220;Unbox and Discover&#8221; event, where it launched all the new TVs it had previously announced at CES, <a href="https://www.theverge.com/2024/3/21/24108183/samsung-will-just-give-you-a-free-tv-with-that-new-tv-you-actually-want">reported</a> The Verge. This marketing tactic will likely boost sales and attract customers to Samsung&#8217;s latest TV offerings.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/03/37864558/elon-musk-draws-attention-to-satya-nadellas-words-in-lawsuit-if-openai-disappeared-tomorrow-we-have?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">US To Shower Samsung With $6B To Boost Chip Production In America: Report</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image Credits &#8211; Samsung

Preordering Samsung's 2024 Frame TV Can Get You Another 65-Inch TV Worth $450 For Free: Here's How

The stock of Samsung Electronics Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) experienced a significant surge on Wednesday following reports of interest from NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) in its next-generation high-bandwidth memory (HBM) chips.
What Happened: Samsung Electronics&#8217; shares rose by more than 5% after Nvidia&#8217;s CEO, Jensen Huang, hinted at the possibility of using Samsung&#8217;s new HBM chips for its graphics processing units. Huang praised Samsung&#8217;s HBM memory, calling it &#8220;very complicated&#8221; and &#8220;very good,&#8221; <a href="https://www.kedglobal.com/korean-chipmakers/newsView/ked202403200013">reported</a> Korea Economic Daily Wednesday.
 According to the report, Huang said, "HBM memory is very complicated, and the value added is very high. We are spending a lot of money on HBM." 
Despite the positive remarks, the qualification process does not guarantee purchase. This news comes after Samsung&#8217;s competitor, SK Hynix, announced that it would be supplying its HBM chips to Nvidia, which led to a drop in SK Hynix&#8217;s stock by 3.56% on Wednesday.
 HBM, a high-value and high-performance memory chip, comprises vertically interconnected multiple DRAM chips. These chips notably enhance data processing speed compared to standard DRAM products while also reducing latency, power consumption, and physical size.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37766119/whopping-33-8-million-shifted-to-robinhood-and-people-suspect-this-person-could-be-behind-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Whopping $33.8 Million Worth Of Dogecoin Shifted To Robinhood — And People Suspect This Person Could Be Behind It</a>
The demand for HBM is swiftly escalating due to the critical role of high-performance chips in driving AI technologies like Nvidia&#8217;s GPUs, which are pivotal in the ongoing AI revolution.
Samsung&#8217;s competitor, SK Hynix Inc., currently holds an undisputed dominance in the global HBM3 supply, controlling approximately 90% of the market.
Why It Matters: Nvidia&#8217;s interest comes at a time when the chip industry is experiencing significant growth and transformation. During the <a href="https://www.benzinga.com/news/24/03/37803088/nvidia-gtc-2024-ceo-huang-highlights-the-past-present-and-future-of-ai-a-new-industry-has-emerged">GTC 2024 event</a>, Huang highlighted the importance of AI and the role of technology in shaping the future. 
This was further emphasized by <a href="https://www.benzinga.com/news/24/03/37838508/nvidias-jensen-huang-foresees-ai-computing-ramp-to-continue-for-years-were-in-the-beginning">Huang&#8217;s prediction</a> that the AI computing industry is still in its early stages and is expected to see significant growth in the coming years.
Additionally, companies like Synopsys Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) play a crucial role in the chip industry, particularly for Nvidia. Synopsys&#8217; CEO, Sassine Ghazi, <a href="https://www.benzinga.com/news/24/03/37839355/synopsys-ceo-dives-into-how-they-are-mission-critical-for-nvidia-in-shaping-the-future-of-chip-desig">highlighted the company&#8217;s significance</a> in the creation of graphics chips that power advanced AI technology. This further underscores the importance of chip manufacturers like Samsung and SK Hynix in the industry.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37814393/andrew-tate-says-he-made-85m-on-last-defi-bull-run-meme-coin-thats-great-but-each-bull-run?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Andrew Tate Says He Made $85M On Last DeFi Bull Run: &#8216;Meme Coin That&#8217;s Great..But Each Bull Run There..Innovating Blockchain Coins&#8217;</a>
Image Via Shutterstock 
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