SSNLF Stock Recent News

CNBC's Melissa Lee reports on the latest news.

Samsung shares hit a three-year high on Friday after the South Korean tech giant forecast a 15-fold increase in its second quarter operating profit from the same time last year, as the global artificial intelligence boom buoys demand for advanced computer chips.

Samsung Electronics' union in South Korea said on Monday it would launch a general strike until its demands for better pay and time off were met.

Samsung Electronics is a leading developer of electronics, including smartphones, TVs, computers, and memory devices. The company's recent growth is expected to continue, driven by its advancements in AI technology and its leading market share in the global smartphone industry. Samsung's upcoming release of its 3nm GAA chip and potential partnership with Nvidia could further drive revenue growth and profits.

Samsung's stock has underperformed compared to its memory market rivals Micron and SK Hynix in 2024. The company has been making progress in its High-Bandwidth Memory (HBM) business and secured support from Nvidia's Jensen Huang. Samsung overtook Apple as the world's leading brand in Q1, highlighting the diverse strength of the business.

Samsung Electronics Co Ltd (OTCPK:SSNLF) Q1 2024 Earnings Conference Call April 29, 2024 9:00 PM ET Company Participants Daniel Oh - EVP & Head, Investor Relations Jaejune Kim - EVP, Memory Tommy Kwon - VP, System LSI Taejoong Song - VP Charles Hur - EVP, Samsung Display Corp Daniel Araujo - VP, Mobile Experience KL Roh - VP, Visual Display Conference Call Participants Sung Kyu Kim - Daiwa Securities Sei Cheol Lee - Citigroup Nicolas Gaudois - UBS Gil-Hyun Baik - Yuanta Securities Dongwon Kim - KB Securities H. Kwon - JPMorgan Chase & Co. Operator Good morning and good evening, everyone, and welcome to the Samsung Electronics 2024 First Quarter Financial Results Conference Call.

Samsung has overtaken Apple as the world's leading mobile phone maker following a slump in iPhone sales in the past three months. Around 50.1m iPhones were shipped in the first three months of the year, against 55.4m units in the same period last year, according to market researcher IDC.

Apple ceded the position of the world's biggest phone maker to rival Samsung in the first quarter of 2024 after global iPhone shipments saw a steep slump, the latest setback for the tech giant since the start of the year.

Samsung has overtaken Apple as the world's top phonemaker during the first quarter of 2024 as the latter's shipments have dropped around 10%, a report says.

Apple's reign as the world's top smartphone maker was short-lived. The iPhone maker supplanted Samsung late last year as the number-one seller of the devices, though Samsung regained the crown during this year's first quarter, according to a report Sunday (April 14) by IDC.