[THE INVESTOR] LG Electronics has allegedly decided not to adopt the modular concept of its flagship smartphone G5 for its successor, tentatively called G6 that will be launched next year. According to news reports on Oct. 21, the Korean tech giant has made the decision following the dismal failure of the G5, the industry’s first modular smartphone that is accompanied with accessory modules that improve camera and audio functions. Despite the highly publicized debut in February, the phone has fa

Oct. 21, 2016

[THE INVESTOR]  South Korea’s National Pension Service, the largest shareholder of Samsung Electronics, said on Oct. 21 it will vote in favor of the nomination of Vice Chairman Lee Jae-yong to the company’s board of directors. The 48-year-old Lee, the only son of the ailing Samsung patriarch, Chairman Lee Kun-hee, was nominated to join the board in September and it will be put to a vote at a shareholders meeting on Oct. 27. “We have decided to vote in favor of Samsung heir’s nomination to the bo

Oct. 21, 2016

[THE INVESTOR] Samsung Electronics is considering using LG Chem batteries for its next flagship Galaxy S8 smartphone after an unprecedented recall of its Note 7 due to faulty batteries. According to news reports on Oct. 20, the Korean tech giant is talking with LG Chem for possible partnership in a move to diversify its battery suppliers other than Samsung SDI and China’s ATL. “We are looking at diverse suppliers, including LG Chem,” a Samsung executive was quoted as saying by Maeil Business New

Oct. 20, 2016

[THE INVESTOR]  Some 50 top  Samsung Group executives on Oct. 19 attended a special lecture on the global trend of virtual reality and augmented reality technologies in their weekly meeting at the Seoul headquarters. The lecture was delivered by Woo Won-taek, professor of Korea Advanced Institute of Science, a renowned AR specialist that has been leading an AR research center at the elite school. The weekly meeting of Samsung’s top brass is held every Wednesday at the head office building, follo

Oct. 19, 2016

[THE INVESTOR] Ssangyong Motor, the Korean unit of Indian auto giant Mahindra & Mahindra, said on Oct. 19 that it has sold 111,683 vehicles in the first nine months of this year, the best sales performance since 2002. The sales figure was up 7.5 percent from the same period last year, largely driven by its hot-selling compact SUV Tivoli whose sales have soared 39.7 percent over the past year. The carmaker said it sold 73,929 vehicles in Korea and 15,278 overseas. Revenue also jumped 8.8 percent

Oct. 19, 2016

[THE INVESTOR] The US Consumer Product Safety Commission, which sparked the global recall of  Samsung Electronics' fire-prone Galaxy Note 7 smartphone, said it plans to launch a large-scale safety investigation into lithium-ion batteries in the market. “On Wednesday, the chairman of our agency, Elliot Kaye, will propose that CPSC staff undertake a new project that takes a broad look at the safety of lithium-ion batteries,” Scott Wolfson, communications director at the CPSC, told The Investor via

Oct. 19, 2016

[THE INVESTOR] Samsung Electronics’ flagship Galaxy S7 smartphone is gaining a fresh sales momentum after its fire-prone Note 7 sibling was withdrawn from the market last week. According to local research firm Atlas Research & Consulting, the 32GB Galaxy S7 topped smartphone sales on Oct. 6-12 in Korea with a 16.1 percent market share. Data from the nation’s top three telecom carriers also showed about 15,000 units of the Galaxy S7 phones are selling every day over the past week in a market wher

Oct. 18, 2016

[THE INVESTOR] Samsung Electronics on Oct. 18 said that it will compensate parts suppliers to minimize their business impact from the discontinued Galaxy Note 7 smartphone. The Korean tech giant said it will pay for unused components and materials as well as finished parts. Some 70 parts makers are expected to benefit from the compensation plan worth about 300 billion won (US$260 million). Considering their reduced earnings, the company also plans to give them new orders for other Samsung smartp

Oct. 18, 2016

[THE INVESTOR] Samsung Electronics is doubling its smartphone production in India with fresh investment worth 19.7 billion rupees (US$300 million). The Korean tech giant on Oct. 17 signed a memorandum of understanding with the state government of Uttar Pradesh, the most populated state in northern India. Samsung will set up a new manufacturing plant in Noida, its production base in India, and also hopes to join the state government’s free smartphone scheme for underprivileged people that is expe

Oct. 18, 2016

[THE INVESTOR] Eugene Investment & Securities on Oct. 18 lowered the target stock price of Kakao from the previous 130,000 won (US$115) to 100,000 won, as the internet giant is showing no immediate signs of earnings turnaround. The securities firm predicted the company’s third-quarter operating profit at 21.4 billion won, a 19.4 percent decline from the previous quarter. Revenue was estimated to see a slight increase of 0.3 percent to 377.7 billion won. “In order to elevate the stock price, earn

Oct. 18, 2016

[THE INVESTOR] HP Inc. confirmed it has no plans to cut jobs in Korea after its planned acquisition of Samsung Electronics' printer-copier business division next year.Since the US$1.05 billion high-profile deal was announced in September, about 2,000 researchers and engineers in Korea have expressed concerns about their job security under new ownership. In response to an inquiry by The Investor, HP said that during its first meeting with Samsung employees recently, the company affirmed its commi

Oct. 17, 2016

[THE INVESTOR] Apple’s latest iPhone 7 and 7 Plus phones have sold out in Korea after preorders started on Oct. 14, ahead of their official launch on Oct. 21 here. Amid the unprecedented recall of Samsung Electronics’ Galaxy Note 7 globally, the new iPhones have been speculated to benefit most from the bigger-screen rival’s withdrawal from the market, including on Samsung’s home turf. Apple iPhone 7 and 7 Plus “Jet Black” editionAccording to the nation’s top three telecom carriers, their first b

Oct. 14, 2016

[THE INVESTOR] Samsung Electronics on Oct. 14 estimated the opportunity cost of its ongoing Galaxy Note 7 recall at about mid 3 trillion won (US$2.6 billion) in the coming months. The announcement comes after the Korean tech giant earlier this week slashed its third-quarter earnings estimates to reflect the direct recall cost of about 4 trillion won. Samsung is recalling about 2.6 million units of the fire-prone Note phones, including 1.9 million in the US, 500,000 in Korea and 190,000 in China,

Oct. 14, 2016