Science & Technology
Samsung Elec to merge mobile and consumer electronics divisions
Samsung Electronics Co Ltd (005930.KS) said on Tuesday it will merge its mobile and consumer electronics divisions and named new co-CEOs in its biggest reshuffle since 2017 to simplify its structure and focus on growing its logic chip business, Reuters reported.
The sweeping move is the latest sign of centralised change at the world's largest memory chip and smartphone maker, after Vice Chairman Jay Y. Lee was paroled in August from a bribery conviction.
The head of visual display business, Han Jong-hee, was promoted to vice chairman and co-CEO, and will lead the newly merged division spanning mobile and consumer electronics as well as continuing to lead the TV business.
Han has risen through the ranks in Samsung's visual display business, without experience in mobile.
Kyung Kye-hyun, CEO of Samsung Electro-Mechanics (009150.KS), was named co-CEO of Samsung Electronics and will lead the chip and components division, read the report.
The newly merged businesses differ in size. The mobile business made 3.36 trillion won ($2.84 billion) in operating profit in the July-September quarter, compared to consumer electronics' 760 billion won.
Other high-profile promotions included naming as vice chairman Chung Hyun-ho, the head of a "task force" which analysts said is a central coordination unit for decision-making in Samsung Electronics and affiliate companies.
"There may be more prompt execution of funds or decision-making," said Kim Sun-woo, an analyst at Meritz Securities.
According to the report the last time Samsung Electronics named new CEOs was in late 2017.
Samsung Group is focusing on areas such as semiconductors, artificial intelligence, robotics and biopharmaceuticals, and plans to invest 240 trillion won ($206 billion) in these fields in the next three years.
Group flagship Samsung Electronics is aiming to overtake TSMC (2330.TW) to become No. 1 in chip contract manufacturing by 2030 by investing about $150 billion into logic chip businesses including foundries.
According to Reuters late last month, Samsung chose Taylor, Texas as the site of a planned $17 billion U.S. chip plant after months of deliberation, coinciding with Lee's first business trip to the United States in five years.
Science & Technology
Russia fines Google more than the world’s total GDP over YouTube bans
Russia has fined Google $2.5 decillion after the US tech giant took action against pro-Kremlin TV channels on YouTube following Moscow’s invasion of Ukraine.
Russia imposed a daily fine four years ago - a fine that has since swelled to an unprecedented level - ($20,000,000,000,000,000,000,000,000,000,000,000 - a 33-digit figure).
To put this into perspective, global GDP reaches an estimated $110 thousand billion (12-digit figure), according to the IMF.
Speaking to Russia’s TASS news agency, one expert, Roman Yankovsky from the HSE Institute of Education, said Google “clearly will not pay this penalty, and the Russian Federation will not be able to recover this money from the company."
Euronews reported that a short calculation shows that he is right.
Google's holding company, Alphabet, has a market capitalisation of slightly more than $2 trillion. Even with earnings of $80.54 billion from the last quarter, the tech giant doesn’t seem to be able to afford to pay the fine.
Google first barred pro-Moscow channel Tsargrad TV, which is owned by oligarch Konstantin Malofeev, four years ago.
At the time, Google was fined a daily penalty of 100,000 roubles and warned that amount would double every 24 hours if it went unpaid.
The original fine has been compounded by further penalties after Google eventually blocked a total of 17 Russian TV channels as a result of international sanctions, The Telegraph reported.
The tech giant now owes a staggering $2.5 decillion.
Science & Technology
Apple launches new iPad mini with AI features
Apple said it would roll out the first set of AI features in the U.S. version of the English language this month through a software update with iPadOS 18.1.
Apple on Tuesday launched its new generation of the iPad mini packed with AI features including writing tools and an improved Siri assistant, as the iPhone maker races to boost its devices with artificial-intelligence capabilities, Reuters reported.
The new iPad mini is powered by Apple's A17 Pro chip, which is used in the iPhone 15 Pro and Pro Max models. With a six-core central processing unit, the A17 Pro would boost CPU performance by 30% compared to the current generation iPad minis and is central to running Apple Intelligence, Apple's AI software.
Apple said it would roll out the first set of AI features in the U.S. version of the English language this month through a software update with iPadOS 18.1.
The features will be available for iPads with A17 Pro or M1 chips and later generations, Apple said, adding it will roll out additional features including image-generation tools, Genmoji and ChatGPT-powered capabilities over the next several months, read the report.
Apple in September unveiled its long-awaited, AI-boosted iPhone 16 lineup, but with the AI features still in test mode, the company failed to excite some investors while early sales data raised some questions around demand.
Still, research firm Canalys on Monday said the iPhone 16 would help Apple's sales in the fourth quarter and drive momentum into the first half of 2025, after Apple reached a record high third-quarter shipments.
The iPad mini, starting at $499, is available for pre-orders starting on Tuesday and will begin arriving to customers and Apple store locations next week, Apple said.
Science & Technology
Iran sends satellites to Russia for rocket launch
In September, Iran carried out its second satellite launch this year using a rocket built by its Revolutionary Guards
Iran has sent two locally made satellites to Russia to be put into orbit by a Russian space vehicle, the semi-official news agency Tasnim reported on Saturday, in the latest space cooperation between the two U.S.-sanctioned countries.
The development of Kowsar, a high-resolution imaging satellite, and Hodhod, a small communications satellite, is the first substantial effort by Iran's private space sector, the report said.
Russia sent Iranian satellites into orbit in February and in 2022, when U.S. officials voiced concern over space cooperation between Russia and Iran, fearing the satellite will not only help Russia in Ukraine but also help Iran monitor potential military targets in Israel and the wider Middle East, Reuters reported.
Kowsar could be used in agriculture, natural resource management, environmental monitoring, and disaster management, Tasnim said.
Hodhod is designed for satellite-based communications and could be used in remote areas with little access to terrestrial networks.
In September, Iran carried out its second satellite launch, this year using a rocket built by its Revolutionary Guards.
The launch came as the United States and European countries accuse Tehran of transferring ballistic missiles to Russia that could be used in its war with Ukraine. Iran has denied this.
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