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☆ Samsung Electronics appoints co-CEO in leadership shuffle focused on chip divisions; shares drop
▼ + stars: | 2024-11-27 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Samsung Electronics on Wednesday announced changes in the leadership of its memory and foundry chip divisions, as the company faces intense competition in the semiconductor space. The South Korean tech giant appointed Jun Young-hyun as co-CEO and head of the memory chip arm, while Han Jin-man will become the president and head of the company's foundry business. Samsung Electronics was once the leading force in the memory chip sector, and appeared well-positioned to take advantage of the boom in artificial intelligence. Last month, Jun, who has been overseeing the semiconductor division since May, issued a rare apology after the company posted disappointing third-quarter profit guidance. Samsung's chip business posted a sharply lower third-quarter profit compared to the previous quarter.

Persons: Jun Young, Han Jin, Nam Seok Woo, Samsung Organizations: Samsung Electronics, South, Samsung, SK Hynix, Nvidia, Citi, Device Solutions

☆ Samsung Elec to expand chip production at largest plant next year - media
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: +2 min

SEOUL, Dec 26 (Reuters) - Samsung Electronics (005930.KS) plans to increase chip production capacity at its largest semiconductor plant next year, despite forecasts of an economic slowdown, a South Korean newspaper reported late on Sunday. Samsung plans to expand its P3 factory in Pyeongtaek, South Korea, by adding 12-inch wafers capacity for DRAM memory chips, the Seoul Economic Daily reported, citing unnamed industry sources. It will also expand the plant with additional 4-nanometre chip capacity, which will be made under foundry contracts - that is, according to clients' designs - the paper said. P3, which started production of cutting-edge NAND flash memory chips this year, is the company's largest chip manufacturing facility. In October it said it was not considering intentionally cutting chip production, defying the broader industry's tendency to scale back output to meet mid- to long-term demand.

Asked about the protests on Monday, Foreign Ministry spokesperson Zhao Lijian said the Chinese government was adjusting its Covid measures based on the realities on the ground. “We believe that with the leadership of the Communist Party of China and the support of the Chinese people, our fight against Covid-19 will be successful,” he said at a regular news briefing. Zhao also addressed the detention of BBC journalist Ed Lawrence, who was arrested Sunday while covering the protests in Shanghai. The Communist Party “has a lot of experience accumulated over the years in dissipating social unrest,” she said. Most of the people who protested appeared to be from the Han ethnic group that dominates China.

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