Latest Samsung Electronics Co Ltd News

Samsung says it will build $17B chip factory in Texas

Nov. 23, 2021 22:49 PM EST

Samsung said it plans to build a $17 billion semiconductor factory outside of Austin, Texas, amid a global shortage of chips used in phones, cars and other electronic devices. “This is the largest foreign direct investment in the state of Texas, ever,” Texas Gov. Greg...

Amid US sanctions, Huawei highlights uses for 5G technology

Nov. 02, 2021 10:41 AM EDT

BEIJING (AP) — China’s Huawei Technologies Co. is providing smart services and 5G technology to industries such as healthcare, creating new revenue streams that might offset the damage to its smartphone business from U.S. sanctions. In the southern city of Guangzhou,...

Nokia 3Q profit beats expectations despite chip shortage

Oct. 28, 2021 09:58 AM EDT

HELSINKI (AP) — Wireless and fixed-network equipment maker Nokia on Thursday reported third-quarter profit above analyst expectations on increasing sales of 5G technology and trimmed costs, but the company warned that the global shortage of semiconductors made the market outlook foggy and...

Asian shares pull back, chilled by decline on Wall Street

Oct. 27, 2021 23:30 PM EDT

Asian shares fell Thursday after a retreat on Wall Street as banks and health care companies pulled the S&P 500 and the Dow Jones Industrial Average back from their latest record highs. Shares fell in all major regional markets and oil prices also declined. ...

Samsung reports robust profit thanks to chip demand

Oct. 27, 2021 22:28 PM EDT

SEOUL, South Korea (AP) — Samsung Electronics on Thursday reported its highest quarterly profit in three years as it continues to see robust global demand for its computer memory chips. The South Korean technology giant also said its revenue of 74 trillion won ($63...

Samsung's Lee fined over illegally using propofol

Oct. 26, 2021 07:01 AM EDT

SEOUL, South Korea (AP) — Samsung’s de facto chief Lee Jae-yong was fined 70 million won (about $60,000) on Tuesday for illegally using the anesthetic drug propofol, about two months after he was released on parole over a separate corruption case. The Seoul Central...

Biden tries to tame inflation by having LA port open 24/7

Oct. 13, 2021 22:33 PM EDT

WASHINGTON (AP) — President Joe Biden tried to reassure Americans on Wednesday that he can tame high inflation, announcing a deal to expand operations at the Port of Los Angeles as prices keep climbing and container ships wait to dock in a traffic jam threatening the U.S. economy and...

Today in History

Oct. 11, 2021 00:04 AM EDT

Today in History Today is Monday, Oct. 11, the 284th day of 2021. There are 81 days left in the year. Today’s Highlight in History: On Oct. 11, 1968, Apollo 7, the first manned Apollo mission, was launched with astronauts...

Dutch consumer watchdog fines Samsung over TV prices

Sep. 29, 2021 05:39 AM EDT

THE HAGUE, Netherlands (AP) — The Dutch consumer watchdog has fined Samsung more than 39 million euros ($45 million) for exerting “undue influence” on the price of television sets sold by online retailers. The company vowed to appeal the ruling. The Netherlands...

Lithuanian agency warns against use of Chinese-made phones

Sep. 22, 2021 12:19 PM EDT

VILNIUS, Lithuania (AP) — Lithuanian cybersecurity experts are urging the country's government agencies to abandon the use of Chinese smartphone brands after an investigation identified security vulnerabilities and censorship concerns with certain devices. Lithuania’s...