SSNLF Stock Recent News

Samsung Electronics unveiled plans Friday to buy back 10 trillion won ($7.2 billion) of its shares over the next year, sending its stock soaring in South Korean trading.

2024 has been an exceptional year for equities, with the S&P500 up 21.3% YTD, driven by a strong economy, full employment, and an AI investment narrative. Despite relatively high valuations, few high-quality stocks have sold off recently. ASML's recent decline presents a long-term buying opportunity despite short-term challenges in the semiconductor industry and delayed growth expectations.

Samsung Electronics Co., Ltd. (OTCPK:SSNLF) Q3 2024 Earnings Conference Call October 30, 2024 9:00 PM ET Company Participants Daniel Oh - Head, IR Jaejune Kim - EVP, Memory Tommy Kwon - VP, System LSI Taejoong Song - VP, Foundry Charles Hur - EVP, Samsung Display Corp Jongmin Lee - EVP, CX MDE Daniel Araujo - VP, Mobile eXperience KL Roh - VP, Visual Display Conference Call Participants Dong-Won Kim - KB Securities Sung-kyu Kim - Daiwa Securities Nicolas Gaudois - UBS Securities Sei Cheol Lee - Citigroup Giuni Lee - Goldman Sachs Dong-je Woo - Bank of America Merrill Lynch Operator Hello, everyone, and welcome to the Samsung Electronics 2024 Third Quarter Financial Results Conference Call.

Samsung has struggled to match some of its rivals in terms of producing advanced chips.

Samsung Electronics' chairman, Lee Jae-Yong, confirmed that the company has no plans to split its contract-based chip manufacturing and logical chip design units. This comes despite these businesses generating significant annual losses due to weak demand, impacting Samsung's overall performance as the world's leading memory chip maker.

As October begins, investors are gearing up for what promises to be another eventful month in the markets. With interest rates, inflation, and geopolitical tensions continuing to influence investor sentiment, October presents a unique set of challenges and opportunities.

Samsung Electronics workers at a factory in India's Tamil Nadu state are paid almost twice as much as employees in nearby companies, the South Korean group said on Tuesday, as a strike at the plant enters its third week.

Samsung Electronics, the world's leading maker of smartphones, TVs, and memory chips, is set to reduce its overseas workforce by up to 30% across some divisions, according to multiple sources cited by Reuters in a report. The South Korean technology giant's decision comes as it navigates a challenging business environment and seeks to improve efficiency.

Samsung Electronics' biggest workers' union in South Korea said on Tuesday it would begin a four-day strike from Thursday to pressure the company over higher wages and bonuses after talks with management fell through in July.

Samsung Electronics reported a 15-fold increase in operating profit in 2Q 2024, driven by the booming AI sector and strong semiconductor performance. Samsung plans to expand HBM production in 2H 2024, with HBM3E expected to dominate sales by Q4. Despite challenges in the mobile device business, Samsung launched new flagship foldable phones and AI-supported mobile accessories.