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U.S. markets are responding positively to President-elect Donald Trump's policies, with the S&P 500 and Dow Jones hitting record highs despite his tariff threats. The Federal Reserve plans to gradually lower interest rates if inflation stabilizes at 2% and employment remains strong. Meanwhile, Softbank invests $1.5 billion in OpenAI, reflecting ongoing interest in tech advancements.
Samsung Electronics has appointed Jun Young-hyun as co-CEO and head of its memory chip division, while Han Jin-man will lead the foundry business, amid fierce competition in the semiconductor market. Following the announcement, the company's shares dropped 3%, reflecting investor concerns over its competitive position against rivals like SK Hynix. Analysts suggest that the leadership changes aim to stabilize operations while addressing business uncertainties.
Samsung Electronics has elevated Jun Young-hyun, head of its semiconductor division, to co-CEO just six months after his appointment. This move underscores the company's commitment to competing with SK Hynix in the AI market, as he will now directly oversee the memory division, a role typically assigned to a subordinate.
Samsung Electronics reported a 40% decline in its semiconductor unit's operating profit for the third quarter, totaling 3.86 trillion won ($2.8 billion), despite overall sales and operating profit slightly exceeding expectations. The company faced challenges from inventory adjustments affecting mobile demand and increased supply of legacy products in China. While demand for advanced chipsets driven by AI is expected to grow, a rebound in mobile and PC demand is anticipated to be delayed.
Jun Young-hyun
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08:30 27.11.2024
amsung electronics announces leadership changes amid semiconductor competition challenges
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