Samsung Electronics has announced plans to lay off around 10% of its global workforce as part of a restructuring plan to cut thousands of jobs affecting certain markets in Southeast Asia, Australia, and New Zealand. According to reports, the layoffs are part of the company’s effort to improve operational efficiency as it has faced stiff…
Samsung To Invest $1.8 Billion In Vietnam
Samsung has announced plans to invest $1.8 billion USD in Yen Phong Industrial Park in Bac Ninh province, Vietnam, to manufacture organic light-emitting diode (OLED) displays. According to reports, the new facility will be used for the production of OLED displays for automobiles and technology equipment to expand Samsung’s presence in the region. The report…
Samsung Electronics To Layoff 30%
Samsung Electronics, the South Korean multinational electronics corporation, has announced plans to lay off around 30% of its global workforce, particularly in sales and marketing departments, as well as its administrative staff, to improve efficiency and maintain competitiveness. The report further mentions that the layoffs will affect jobs across the Americas, Europe, Asia, and Africa,…
Samsung: $92.7 Million Sonio Acquisition Deal
Samsung Medison Co., Ltd. is a manufacturer of diagnostic ultrasound systems. It is a subsidiary of Samsung Electronics and was founded in 1985. As of 2020, the company has sold its medical devices in 110 countries, which amounts to 85% of its total sales. According to reports, Samsung Medison has announced the acquisition of Sonio,…
Samsung: $6.4 Billion Semiconductor Plant Investment
The CHIPS and Science Act has announced an investment of $6.4 billion USD to Samsung, the South Korean multinational electronics corporation, to expand its semiconductor chip plants in central Texas. According to reports, the investment will support two chip production facilities, a research and development center, and a packaging facility as part of a broader…
Samsung & Tesla Partnership
Samsung and Tesla have announced a partnership that will enable both companies offer their customers a seamless technology powered experience. This collaboration will allow Samsung’s SmartThings platform connect to Tesla’s Powerwall, Solar Inverters, and Electric Vehicles, giving users the ability to monitor their energy consumption and storage capacities. According to the report by Samsung, Tesla…
Samsung & Hyundai Partnership
Samsung and Hyundai recently announced a new partnership that aims to equip Hyundai and Kia electric vehicles with the SmartThings technology that Samsung offers in smart homes. The technology will offer car-to-home and home-to-car connected services which include remote control in both directions for a variety of smart management systems. According to Samsung, customers will…
Samsung SDI & Hyundai EV Battery Deal
Samsung SDI Corporation is a battery and electronics hardware manufacturer that specializes in energy solutions and electronic component production. The company is a subsidiary of Samsung Group, with its headquarters in Yongin, South Korea. According to recent reports, Samsung SDI has entered into a partnership with Hyundai Motor Company to aid the supply of electric…