Lam Research, IISc to commence pilot semiconductor engineering course

Posted By: Preeti Dabar Posted On: Jul 28, 2023
Lam Research?s announcement comes as fabless US chipmaker Advanced Micro Devices (AMD) announced a $400 million outlay to build its largest global engineering, research and development centre in IndiaKimberly White/Bloomberg News

New Delhi: US-headquartered semiconductor component, engineering and services firm Lam Research on Friday announced its first pilot initiative for training semiconductor fabrication engineers in the country in partnership with the Indian Institute of Science (IISc).

The memorandum of understanding (MoU) between Lam Research and IISc was unveiled at the Semicon India 2023. The first tranche of the programme with 30 engineers will commence next month at the institute's Centre for Nano Science Engineering (CeNSE).

Areas that the pilot project will focus on include virtual metrology or scientific measurements, physical design learning and process flow development, as part of device integration techniques for engineering students at IISc Bengaluru. The first stage of the project is scheduled to be completed by the end of this year, while a second stage is earmarked to be completed by June next year. Following the trial, the company will seek to align the program with engineering curriculum organized by the All India Council for Technical Education (AICTE), the central body responsible for engineering courses in the country.

On 23 June, Lam Research announced an initiative to train 60,000 semiconductor fabrication engineers in India over 10 years, in order to build a workforce to supply the chipmaking ecosystem. The initiative will use Lam Research's Semiverse high-precision digital twin platform in order to offer the training, in partnership with technical education institutes and universities.

In a bid to develop engineering platforms for the chip designing and engineering industries, the company opened an engineering centre in Bengaluru in September last year.

Srinivasan Raghavan, chairperson, CeNSE at IISc Bengaluru, said in a statement that the project could help meet the target of developing 85,000 semiconductor engineers in the country by 2030, as envisaged by the Centre. He added that virtual platforms will play a key role in training chip engineers, since having a physical environment to train developing 2nm (nanometer) chips is “cost prohibitive for academic institutions."

Lam Research's announcement comes as fabless US chipmaker Advanced Micro Devices (AMD) announced a $400 million outlay to build its largest global engineering, research and development centre in India—with a target to hire 3,000 semiconductor designers by 2028. Anil Agarwal, chairman of domestic industrial conglomerate Vedanta, also said that the company has identified a new “world class" technology partner for its proposed semiconductor and display fabrication project—which ran into a roadblock earlier this month when the $19.5 billion joint-venture saw its technology partner, Taiwan's Foxconn, exit the partnership.

Source: Live Mint
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What is “friendshoring”

Posted By: Ramesh Sharma Posted On: Aug 31, 2023
G7 members during a NATO summit in Vilnius, Lithuania, Wednesday, July 12, 2023. (AP Photo/Pavel Golovkin) (AP)

AT THEIR ANNUAL gathering in Jackson Hole last week the world’s central bankers talked, among other things, about the threat of deglobalisation. Christine Lagarde, president of the European Central Bank (ECB), noted that the governments of Western countries are increasingly adopting industrial policies that promote “friendshoring" of strategic industries. This, and related terms like “nearshoring", “derisking" and “decoupling" (mainly from China), are in vogue among economic policymakers. What is friendshoring?

It happens when a government pushes businesses to restructure supply chains, shifting production away from geopolitical rivals to friendly powers. The Biden administration's ban on American investment in Chinese technology this month is one example. Friendshoring is similar to nearshoring, which moves production closer to home. Both policies aim to strengthen trade security. But they have a cost: when politics rather than profit determines where goods are made, production is likely to be less efficient. But advocates argue that the price is worth paying to reduce countries' dependence on hostile powers. That argument gained force after Russia cut off its gas supplies to try to compel the EU to withdraw its support for Ukraine, which it invaded in 2022. It has been bolstered by increasing tensions between America and China.

Janet Yellen, America's treasury secretary, implicitly argued for reducing Western reliance on China in a speech last year when she called for more secure supplies of critical materials, particularly those used in semiconductors and electric-vehicle batteries. She recently travelled to India and Vietnam to strengthen ties with businesses there. At first glance, friendshoring appears to be making progress. Trade ties between China and America are weakening: in 2018 two-thirds of American imports from a group of “low-cost" Asian countries came from China; last year just over half did. This year Mexico supplanted China as America's top trading partner.

But the reality is more complex than these figures suggest. Although America is importing less from China, its friendly suppliers continue to rely on Chinese inputs. Mexico's imports of car parts from China have doubled in the past five years. And in some strategic industries, notably green power, America continues to rely on China: it provides more than a third of the large-capacity batteries that America imports, up by five percentage points since Ms Yellen's speech. The EU faces a similar challenge: the bloc relies heavily on China as a supplier of 14 out of the 27 raw materials it deems to be of critical importance.

Thus far, attempts to friendshore supply chains have created no more than a degree of separation in America's trade relationship with China, leaving deep economic ties largely intact. The Biden administration insists it wants to keep separation limited. During a trip to China from August 28th-30th, Gina Raimondo, America's commerce secretary, told Li Qiang, China's prime minister, that America does not wish to decouple from China. That may be because recent research has shown just how high the costs of friendshoring could be. A study by the IMF in May found that friendshoring would damage real GDP in America and Europe by 0.1%-1%, and inflict worse harm, of up to 4.7%, on countries caught between the West and its adversaries. Another by the ECB found that global gross national expenditure would fall by 5.3% in its worst-case scenario. America may be able to buy supply-chain security, but it would come at a heavy price.

©️ 2023, The Economist Newspaper Limited. All rights reserved.

From The Economist, published under licence. The original content can be found on www.economist.com

Source: Live Mint
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Meet Valli Arunachalam

Posted By: Aditya Gogoi Posted On: Aug 20, 2023
Valli Arunachalam (File)

New York-settled nuclear scientist and eldest daughter of MV Murugappan Valli Arunachalam – on 20 August finally managed to settle disputes with Murugappa family members.

Arunachalam has been long fighting against the patriarchy and gender discrimination, as she had accused her uncles and cousin brothers of denying her a seat on the board because of her gender.

Following the demise of MV Murugappan in 2017, the 120 years old Murugappa Group, had been in the news for a family feud as Valli Arunachalam, the Murugappa group chairman's eldest daughter, her sister, and their mother, have been demanding a board seat in Murugappa Group's holding company Ambadi Investments (AIL) or a suitable value for their 8.23%.

Despite Murugappan bequeathed everything for his wife Valli Murugappan and daughters, and the family holding a 91 percent stake in the publicly unlisted company, Valli Arunachalm has been demanding a board seat.

ALSO READ: Valli Arunachalam's fight for her rights against gender bias in Murugappa Group. Explained

Who is Valli Arunachalam?

The eldest daughter of former Murugappa group chairman, late MV Murugappan, Valli Arunachalam is a New York-settled nuclear scientist and has expertise in semiconductor technologies.

She has a Master's and MPhil in Nuclear Physics from the University of Madras in 1988, and a Ph.D. in nuclear engineering from Texas A&M University in 1996. Apart from this, she has numerous patents and research papers to her credit.

She played a key role in setting up a leading-edge semiconductor fabrication plant in the USA and transferring technology to Europe and Asia.

Though she is currently an independent consultant now, her career expands by working with firms like Motorola Solutions, Texas Instruments, IBM Research Alliance, Apogee Research Forum, and more.

Arunachalam's battle:

She became famous after she took Murugappa Group family members to National Company Law Tribunal (NCLT), alleging gender bias.

Valli Arunachalm has been demanding a board seat, being the fourth-generation Murugappa scion. "In August 2019, we asked for a board position. I have been repeatedly following up with them and asking them for a meeting, but it has fallen on deaf ears. Every branch of the third generation has a representation on the Ambadi board, except ours," Arunachalam had told Business Today.

According to a report by CNBC, the Murugappa group's publicized family feud has attested to the group's reluctance to let go of its century-old and highly criticized patriarchal practice of denying female members of the Murugappa family a place on the AIL board or a role in business.

Current Status:

Meanwhile, on Sunday, the Murugappa family announced that its members have agreed to settle the disputes and differences between the family branch of the late MV Murugappan (including Valli Arunachalam and Vellachi Murugappan).

The family members are committed to undertaking the necessary transactions to effect the family arrangement within the next 90 days.

With agency inputs.

Source: Live Mint
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Is India entering a semiconductor ‘red ocean’

Posted By: Pawan George Posted On: Aug 20, 2023
The US government's CHIPS Act of 2022 provides $52 billion in funding for semiconductor research and manufacturing, while China is reportedly working on a $145-billion support package for its chip industry (Photo: Reuters)

The global semiconductor industry is prone to shortages and surpluses. Both drive capital investments. During shortages, chipmakers expand production capacity, leading to oversupply. Now, it’s a time of glut, and India is entering the manufacturing fray with a $10-billion incentive package for the semiconductor industry. This raises the question of whether it should get into the ‘red ocean’ of chip manufacturing, marked by intense competition, or focus on chip design.

The oversupply is immense. Taiwan's TSMC, the world's largest chipmaker, reported a 23% drop in June-quarter (Q2) sales and warned that sales would drop 10% for 2023. Consultancy Gartner projected an 11.2% decline in revenues for the global industry in 2023 after tepid 0.2% growth in 2022. “As economic headwinds persist, weak end-market electronics demand is spreading from consumers to businesses, creating an uncertain investment environment," it said this April. The pain started when shortages during the pandemic turned into a glut last year, worsened by fears of economic slowdown.

Yet, the sector is drawing big investments. Earlier this month, the US said companies there had announced $166 billion in investments in semiconductors and electronics in the one year since President Joe Biden signed off on a law that promotes the sector. In June, US-based Intel said it would invest $33 billion in Germany to expand in Europe. The number of semiconductor fabs processing 300-mm wafers globally is projected to jump from 138 in 2020 to 180 in 2023 and 233 in 2027. In this ocean, India too wants a place.

Government push

Global competition to build chip manufacturing capacity is driven by governments. For example, the US government's CHIPS Act of 2022 provides $52 billion in funding for semiconductor research and manufacturing. Last month, the European Union approved its own Chips Act, a 43-billion-euro ($47.5 billion) plan to develop more fabs, aimed at capturing “at least" 20% of global market share by 2030.

China is working on a $145-billion support package for its semiconductor industry, according to a Reuters report last December, and is facilitating easier access to subsidies, according to an FT report earlier this year. Similarly, South Korea, Japan and Taiwan offer tax credits, subsidize set-up costs and provide other incentives to promote semiconductor manufacturing. It's driven by both economic reasons (like creation of jobs) and geopolitical reasons (ongoing rivalry between the US and China). These twin forces are driving investments, despite the drop in revenues and excess inventory.

Shifting balance

There's been an imbalance in the global semiconductor industry since it entails huge upfront investments. Many of these investments took place in South East Asian countries and China. For example, while the US accounts for 34% of global demand for semiconductors, it accounts for only 14% of supply, according to McKinsey. More than half of US-owned fab capacity is located outside the US, according to Knowmeta Research. Japan, on the other hand, accounts for 16% of supply and 8% of demand. Taiwan, the world's top supplier, accounts for only 1% of demand.

The recent push by various governments to manufacture locally is expected to shift that balance, as well as increase supply once new capacities start producing. While it would ensure a steady supply of chips in the future, it has also raised concerns about a near-term talent shortage and price wars. If prices drop significantly, it could impair assumptions behind the returns on ongoing investments. However, demand could outweigh these concerns.

Demand drivers

Communications and computers accounted for 56% of semiconductor sales in 2022 and automotive sector 14%, according to the Semiconductor Industry Association (SIA). McKinsey projects a tripling of demand from the automotive sector by 2030, fuelled by applications like autonomous driving and e-mobility. Increasingly, consumer demand for laptops and phones is driven by emerging markets, including those in Asia, Latin America, and Africa, SIA said.

According to a 2022 report by McKinsey, the global semiconductor industry could see average annual growth of 6-8% until 2030, reaching $1 trillion in size. While semiconductor manufacturing is becoming a red ocean, which is captured by the term ‘chip wars' that's used to describe the rivalry between China and the West, the market itself promises to get bigger. Thus, while the Indian government may be betting on the right sector, the key is whether it can turn the intentions and incentives into operational factories without glitches.

www.howindialives.com is a database and search engine for public data.

Source: Live Mint
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Intel Shows Why Global Chip M&A Is off the Table

Posted By: Preeti Dabar Posted On: Aug 17, 2023
(FILES) Visitors take pictures next to the Intel logo outside of the Intel headquarters on January 16, 2014 in Santa Clara, California. Intel will report fourth quarter earnings after the closing bell. Intel Corporation has terminated a $5.4 billion deal to buy Tower Semiconductor in Israel after failing to get needed regulatory approval, the US chip maker announced August 16, 2023. (Photo by JUSTIN SULLIVAN / GETTY IMAGES NORTH AMERICA / AFP) (AFP)

You can’t blame Intel for trying. You might be able to blame other tech giants for trying in the future.

Intel has embarked on a risky and high-stakes journey to become a maker of chips designed by others. This “foundry" business model is a sharp turn for the storied Silicon Valley pioneer that has long focused on just manufacturing its own designs. So it was little surprise that Intel turned to the outside for some help, in the form of a plan to acquire an Israeli chip foundry business called Tower Semiconductor for about $5.4 billion.

That was 18 months ago. The deal is off now, after failing to land the necessary regulatory approval from the Chinese government. Intel tactfully avoided pointing any fingers in its Wednesday morning announcement terminating the deal; Chinese customers account for 27% of its total revenue, and the company also has a deep supply chain in that country—as do most of its chip peers. Intel is also pressing on with its own foundry plans, having earlier this year named longtime insider Stuart Pann to run that side of the business. Stacy Rasgon of Bernstein called that move just the latest sign that Intel wasn't stacking all its chips on the Tower deal. “Overall we cannot believe that a deal break would be a shock," Rasgon wrote in a note Wednesday.

In hindsight, it was kind of a shock that Intel even bothered trying. The escalating chip war between the U.S. and China has seriously soured the prospects for major M&A deals that require the approval of regulators in both countries. Two previous semiconductor deals have been scuttled for lack of clearance by Chinese regulators—Qualcomm's attempt to buy NXP in 2018, and Applied Materials' proposed acquisition of Kokusai Electric in 2021.

As the U.S. presses its advantage by limiting China's access to the most advanced chip technology, it should be little surprise that China would deploy one of the more powerful tools in its own arsenal—the ability to quash expansion attempts by U.S. chip companies.

Intel makes a particularly tempting target in this regard. While the company has lost its lead in the most advanced production technology to Taiwan Semiconductor Manufacturing, it is still the largest U.S.-based chip manufacturer by far, with annual revenue nearly seven times that of GlobalFoundries, a New York-based foundry-only chip maker.

That makes Intel a prime beneficiary of the U.S. government's efforts to bankroll domestic chip operations, which in turn has been framed as a response to the fact that “other countries put their thumb on the scale," according to comments by the chief investment officer of the Chips Program Office in an interview with The Wall Street Journal. Intel is currently planning to expand its domestic chip-production facilities with the government's help, and that help is an important component of the “smart capital strategy" that Intel has described to investors as a way to help cover its costly pivot into a new business model.

But Intel and the rest of the chip industry aren't alone in facing resistance to their growth plans, and China is hardly the only obstacle. Regulators in the U.S. and Europe are also taking harsher stances toward major tech deals out of concern about the industry's growing heft. Microsoft's effort to buy Activision Blizzard is now in its 19th month, having survived a court challenge by the Federal Trade Commission but still awaiting clearance from U.K. authorities.

Meanwhile, Amazon's deal to buy Roomba-maker iRobot just eclipsed its 12-month deadline while it also awaits an extended review by the U.K., as well as potential resistance from the FTC, which is reportedly looking at a broader antitrust suit against the e-commerce giant. That deal is about one-third the size of Intel's now-defunct Tower bid, proving that deals once small enough to be considered safe no longer are. Intel isn't the only tech titan that is on its own now.

Write to Dan Gallagher at dan.gallagher@wsj.com

Source: Live Mint
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Intel Scraps Tower Acquisition After China Fails to Approve Deal

Posted By: Vishal Maurya Posted On: Aug 16, 2023
With their deal dead, Intel said it would pay a $353 million termination fee to Tower Semiconductor.

Intel said on Wednesday it would walk away from its more-than-$5 billion proposed acquisition of Israeli chip maker Tower Semiconductor after failing to win regulatory approval for the deal.

The deal required approval from a number of jurisdictions, and China's State Administration for Market Regulation had yet to sign off by Tuesday's approval deadline. The Chinese regulator didn't immediately respond to a request for comment Wednesday.

Intel said it would pay a $353 million termination fee to Tower, in line with the terms of their agreement.

Intel had agreed in February 2022 to acquire Tower, which according to its website operates manufacturing facilities in Israel, California, Texas and Japan. The company is based in Migdal HaEmek, near Nazareth in northern Israel.

The demise of the deal comes as the Biden administration ratchets up pressure on China's chip industry. Last year the U.S. unveiled sweeping export controls on the sharing of American chip technology with China and recently it announced restrictions on investment in China's chip sector.

Beijing has taken few steps to retaliate, and experts say the country is limited in both its ability and desire to respond in a big way. However, one way Beijing has responded to the increased pressure has been by slow-walking proposed mergers, The Wall Street Journal has reported.

Intel initially said it aimed to close the deal in the first quarter of this year, but then extended the expected timeline to the first half. The company said in April it might terminate the deal if regulatory approvals weren't received by Aug. 15.

“Our respect for Tower has only grown through this process, and we will continue to look for opportunities to work together in the future," Intel CEO Pat Gelsinger said in announcing the deal's termination.

Tower separately confirmed the two sides would terminate the deal. “Tower was very excited to join Intel to enable Pat Gelsinger's vision for Intel's foundry business," Tower CEO Russell Ellwanger said.

Source: Live Mint
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Taiwan’s TSMC to Build First European Chip Plant in Germany

Posted By: Ajay Rawat Posted On: Aug 09, 2023
TSMC has sought to reduce its vulnerability to geopolitical tensions by spreading its assets around the globe.

Taiwan Semiconductor Manufacturing Co. will build its first European chip factory with support from the German government, the latest move to make the continent less dependent on high-tech imports out of Asia.

TSMC said it had approved a $3.8 billion investment in the factory in Germany, with total investments in the plant expected to exceed 10 billion euros, equivalent to $11 billion, including government support.

The German Economics Ministry said the government would support the project subject to approval by the European Union, which has eased limits on government subsidies for semiconductor projects.

The widely anticipated decision comes weeks after Berlin said it would pay €10 billion to support a €30 billion investment by Intel, the U.S. chip maker, in two plants in Magdeburg, in eastern Germany—among the biggest foreign investments ever made in the country.

The EU is seeking to double its share of the global semiconductor market as part of a broader effort to strengthen its high-tech supply chains and reduce its dependence on outside suppliers in high-growth industries.

The effort is partly a reaction to the Biden administration's $53 billion Chips Act, which aims to draw semiconductor investments to the U.S., and its Inflation Reduction Act, which offers incentives for support for green technology investments.

Europe's attempts to bolster its domestic chip industry also reflect a strategic effort to reduce its reliance on Chinese technology imports.

Since Russia launched its full-scale invasion of Ukraine last year, sending Europe scrambling to replace Moscow as one of its main energy suppliers, governments on the continent have sought ways to insulate themselves from future geopolitical shocks.

One of these would be a decision by China to invade Taiwan, the self-ruled island it considers its own territory, in a scenario that European officials fear could wreak economic havoc on the continent. Another impetus for the change in policy was the Covid-19 pandemic, which severed crucial supply chains in a range of industries.

Last month, Germany released its first-ever strategic policy document on China, saying it would reduce its economy's exposure to and technological reliance on the country, in part through more state support for high-tech and strategic industries.

TSMC's German factory will be set up as a joint venture with several EU-based chip companies including Bosch, Infineon and NXP, according to the four companies involved. TSMC said it would run the plant and hold 70% of the joint venture, with the other three companies each holding 10%.

Construction is expected to start in the second half of 2024, with production beginning by the end of 2027, the company said.

TSMC faces challenges including soft consumer demand, rising costs and a shortage of various types of skilled workers. But like Europe and the U.S., it has sought to reduce its vulnerability to geopolitical tensions by spreading its assets around the globe.

The company, which makes chips for a host of major electronics products including those of Apple, is building chip-manufacturing plants outside of its home base, Taiwan, in countries like the U.S. and Japan.

The new multibillion-dollar German plant will be located in Dresden, in the eastern state of Saxony, which has become a technology and industrial hub since German reunification three decades ago. The plant will specialize in the production of less advanced chips typically used in cars, the company said.

People familiar with TSMC's plans said government subsidies would help offset regional disadvantages such as higher operating costs and the relative scarcity of skilled workers required to build and run a chip factory in Europe compared with Taiwan.

Skills shortages have been an obstacle to the company's expansion abroad. Last month it said a planned factory in Arizona would miss its target of starting mass production next year, as people with expertise in building semiconductor facilities were in short supply locally. Industry experts had said TSMC is likely to face a similar talent shortage in Japan and Europe too.

The company is seeking up to $15 billion from the Biden administration for its plans to build two chip factories in Arizona, and is concerned about the U.S. rules that could require it to share profits from the factories and provide detailed information about operations. TSMC also said on Tuesday that it had approved a capital injection of no more than $4.5 billion as part of its overall $40 billion Arizona investment.

A push for a manufacturing base in Europe could do TSMC a favor by putting it closer to its major automotive customers in Europe, which have had to close factories and cut production during the pandemic because of a shortage of semiconductors needed for air conditioning, engine control and other functions. This has cost the car companies billions of dollars in lost revenue, prompting them to build a better system by working with chip makers like TSMC.

Source: Live Mint
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Samsung extends output cuts in anticipation of AI-driven recovery

Posted By: Aditya Gogoi Posted On: Jul 27, 2023
Samsung aims to double its capacity for producing high-bandwidth memory (HBM) by 2024 to capitalise on the growing interest in AI applications. (AFP)

Samsung Electronics Co. has announced its commitment to continue reducing memory chip production while anticipating a rebound in sales during the second half of the year. The company attributes the expected recovery to increased global tech spending driven by the demand for artificial intelligence (AI) technologies following the post-Covid economic downturn.

Samsung's recent financial report showed net income surpassing expectations. The company expressed confidence that AI-related applications would fuel memory demand growth by the end of the year. As part of its plans to capitalize on this trend, Samsung, South Korea's largest company, aims to double its capacity for producing high-bandwidth memory (HBM) by 2024. HBM is a cutting-edge technique crucial for AI training.

Investors responded positively to Samsung's strategic focus on AI-related technologies, leading to a 2.7% increase in its shares in the Seoul market. Notably, this move sets the stage for a competition with SK Hynix Inc. to develop essential tools for AI, enabling the world's two largest memory chipmakers to leverage the growing interest in AI applications since the success of OpenAI's ChatGPT in the previous year.

While waiting for the AI-driven demand to take effect, both Samsung and Hynix have committed to limiting the production of NAND chips, commonly used in PCs and phones, to stabilize sliding prices amid ongoing economic uncertainties.

Sanjeev Rana, an analyst with CLSA Securities Korea Ltd., expressed optimism about the memory market, stating that the worst is likely behind them. Hynix experienced price rebounds in the second quarter, and Samsung is also expected to gain ground in the third quarter.

Samsung anticipates a surge in demand for high-performance memory to support generative AI applications capable of processing substantial amounts of data. However, the company acknowledges that the demand for general servers and storage is relatively limited.

Amid macroeconomic uncertainties, Samsung refrained from providing a bit shipment guidance for the full year. The company noted that overall memory inventory seemed to have peaked in May, but a slow post-Covid recovery in China has impacted demand for logic chips.

Despite facing challenges, Samsung remains a bellwether for the tech industry due to its leading position in chips, electronics, and smartphones. In the quarter ending in June, the company reported a net income decline of 86% to 1.55 trillion won ($1.2 billion), which still exceeded the average estimate of 925 billion won, thanks to support from a weak won. Earlier in the month, Samsung had reported its worst quarterly revenue decline in over a decade.

Analysts believe that SK Hynix, already supplying HBM chips to Nvidia Corp., stands to gain significantly from the demand for chips in generative AI platforms. Nevertheless, they expect Samsung to catch up in the HBM market, projecting an acceleration of Samsung's HBM shipments in 2024.

Samsung is now actively trying to increase its orders for AI-supporting chips and is also expanding its foundry business, though it currently lags behind Taiwan Semiconductor Manufacturing Co. More than 90% of Samsung's quarterly capital expenditure of 14.5 trillion won was allocated to chips.

These developments come at a time when TSMC has reduced its outlook and delayed production at its Arizona project until 2025, reflecting the uncertainty prevailing in the global chip industry.

Investors are closely watching major tech companies for indications of when demand for electronics and semiconductors will rebound, amid the challenges posed by an uneven global outlook, surging inflation, and post-Covid turbulence in China.

Samsung, being a key player in the $160 billion memory industry that faced excess capacity during prosperous times and is currently grappling with inventory issues, serves as an important barometer for the sector's recovery. Notably, Samsung has taken significant steps by cutting its production in response to the industry downturn, whereas it previously continued production during similar periods.

Additionally, Samsung's automotive memory chips are expected to be a potential long-term growth driver, with the company projecting more than 30% growth on average for the next five years.

Apart from its semiconductor business, Samsung's smartphone division, the world's largest, is actively competing for customers. The company anticipates increased smartphone shipments and improved average selling prices in the current quarter. To counter rival products from Apple Inc., Samsung recently unveiled its fifth-generation foldable smartphones. Moreover, the company is exploring a lower-cost option to gain market share in the increasingly popular foldable phone category.

Furthermore, Samsung executives have revealed their work on a mixed-reality device and their plans to build an ecosystem supporting content development in this nascent arena, which now includes competition from Apple's Vision Pro headset.

(With inputs from Bloomberg)

Source: Live Mint
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Bussiness LPG Cylinder Rates: Oil marketing companies have cut the price of 19 kg LPG gas cylinders across the country. There has been a reduction of Rs 100 in Delhi. At the same time, a reduction of around Rs 93 has been made in other metros. Now 19 kg cylinder will be available in Delhi for Rs 1680, which was till now a
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Bussiness Petrol, and Diesel Prices on July 31: The price of Petrol and Diesel remained constant on Monday, July 31 across major cities like New Delhi, Kolkata, Mumbai, and Chennai. The petrol and diesel rates for each day, whether new or constant, are announced at 6 am on the day. These, however, vary from state t
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Bussiness India and Britain could sign a free trade agreement (FTA) this year as both countries have reached consensus on the broad contours of the proposed deal aiming to boost economic growth and jobs, a top Indian trade ministry official said. India and Britain could sign a free trade agreement (FTA) this yea
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Bussiness Balrampur Chini Mills posted strong Q1 results on Saturday as their profit jumped a whopping 493% to touch ₹73.5 crore during the quarter ending June 2023. During the same quarter last fiscal, the company posted consolidated net profit of ₹12.38 crore. The revenue of the company rose 28% from ₹1,094.
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Bussiness The price of gold marginally dropped on Thursday, with the cost of 1 gram of 22 carat gold declining to ₹5,495 from yesterday's ₹5,505, as per the figures released by Goodreturns. Accordingly, the price of 8 grams of 22 carat gold also decreased to ₹43,960 from the previous figure of ₹44,040, marking a p
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Bussiness Reliance Industries Ltd, India's most valuable company, has sought shareholder's approval to give Mukesh Ambani another five-year term as chairman and managing director of the company till 2029 -- a period during which he has opted to draw nil salary.
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Bussiness Go First airline, which has been grounded since early May, has announced a further extension of flight cancellations till July 31, the airline announced in a tweet on Sunday. Go First airline, which has been grounded since early May, has announced a further extension of flight cancellations till Jul
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Bussiness In order to settle the pending contractual disputes of government and government undertakings, the finance ministry has launched the ‘Vivad se Vishwas II – (Contractual Disputes)' scheme, according to an official statement released on Wednesday. Finance Minister Nirmala Sitharam announced th
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Bussiness If you did not link your Permanent Aadhaar Number (PAN) to Aadhaar before June 30, your PAN is now considered inoperative. This means you'll face some problems with your financial activities and taxes. For instance, you won't be able to invest in bank fixed deposits or mutual fund schemes, file income
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Latest News India is currently seeing a surge in cases of acute conjunctivitis or eye flu. It is caused by various factors, such as allergies or infections, resulting in inflammation of the conjunctiva that covers the white part of the eyeball. The incessant rain, humid conditions, and waterlogging are providi
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World Isolated internationally and authority tested by a failed mutiny, Russia hosted African leaders for a summit in his native Saint Petersburg to project normalcy and display support from its allies. Isolated internationally and authority tested by a failed mutiny, Russia hosted African leaders fo
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World ‘RIP Tylee' is trending on social media after Canadian entrepreneur Ryan Cohen's pooch, Tylee, died. Ryan took to Instagram to share the news, adding that Tylee inspired him to start his e-commerce company, Chewy, in 2011. Ryan was the company's CEO until 2018, and is the executive chairman of GameSt
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Bussiness The Reserve Bank of India (RBI) has announced the launch of the Pilot Project for Public Tech Platform for Frictionless Credit by Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI. The Reserve Bank of India (RBI) has announced the launch of the Pilot Project for Public Tech Platform for Frictionless Credit by Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI.
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Bussiness India's foreign exchange reserves jumped $708 million to $602.161 billion for the week ended August 11, the Reserve Bank of India (RBI) said on Friday. This is the first increase in the kitty after declining for three consecutive weeks. In the previous reporting week, the overall reserves had declined $2.417 billion to $601.453 billion.
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Entertainment Filmmaker Anurag Kashyap recently gave a glowing review to Karan Johar's directorial comeback Rocky Aur Rani Kii Prem Kahaani. After Anurag revealed he loved, cried and watched the film twice, many users took to the comment section of his post and criticised the film. Responding to them all, Anurag c
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World Ukrainian President Volodymyr Zelensky arrived in the Netherlands on Sunday aiming to strengthen his country's air power, a day after a “heinous" Russian missile strike killed seven people and wounded 148 in Chernihiv. Ukrainian President Volodymyr Zelensky arrived in the Netherlands on Sunday aiming to strengthen his country's air power, a day after a “heinous" Russian missile strike killed seven people and wounded 148 in Chernihiv.
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Entertainment The popular animated series, Futurama, is returning for the third time in 24 years, making fans worldwide very happy. The show has a dedicated group of followers and has received praise from critics because of its mix of science fiction, satire, and humor. Following its previous successes and loyal f