The Korea Times

Galaxy S4 to hit market today

Lee Don-joo, president of Samsung’s telecommunications division, unveils the company’s latest smartphone — the Galaxy S4 — during a launch event at Samsung’s main office in Gangnam, southern Seoul, Thursday. / YonhapFirm aims to sell over 100 million phonesBy Kim Yoo-chulSamsung Electronics Thursday unveiled its latest smartphone ― the Galaxy S4 ― in Korea, with high hopes that sales of the latest device will be stronger than its previous models.The unveiling event came a day before Samsung will roll out the latest version of its flagship smartphone line-up here, Friday. Korea is the first country to have the new Galaxy, which will be followed by 155 countries from April 27.During the event, Samsung sources and market analysts said it is aiming to sell over 100 million units of the S4 in what they claim is ``highly achievable’’ because this latest smartphone has an undisputable leverage in competitive pricing, although the S4 is the most-advanced in terms of hardware specifications.Samsung has so far sold over 50 million units of th

Apr 25, 2013By Kim Yoo-chul

Tech & Science

SDS focuses on mutual growth

Officials from Samsung SDS talk with employees from its partners at SDS’ collaboration center at the company’s main building in Gangnam, southern Seoul.                                                                                 / Courtesy of Samsung SDSBy Kim Yoo-chulSamsung SDS, the information and technology solutions unit of Samsung Group, is making greater efforts to develop programs that ensure balanced growth with its partner companies.To that end, the company has set "sustainable growth throughout innovation and creation’’ as this year’s top phrase.Under the initiative, the firm plans to spend more to help its local partners as SDS believes more educational and financial support means higher returns, said company spokeswoman Kim Mi-ri.SDS’ consistent push for balanced growth come after the Samsung affiliate has earned more oversea

Apr 24, 2013By Kim Yoo-chul

Tech & Science

SK hynix enjoys earnings surprise

 By Kim Yoo-chulSK hynix, the semiconductor affiliate of the SK Group, shifted to a surplus in the first quarter of this year on the back of robust sales of advanced chip-embedded digital gadgets, the company said Wednesday.It said it has benefited from other suppliers migrating to mobile products like tablets and smartphones as it helped meet demand from customers still wanting PC and server chip components.Its operating profit reached 317 billion won ($283.7 million), a major turnaround from the previous year’s 263.5 billion won loss. Consensus by market analysts for the firm’s operating profit was around 210 billion won. Rising demand for advanced chip-embedded digital gadgets helped the company improve its quarterly revenue by 16 percent to 2.78 trillion won, year-on-year. Its net profit reached 179 billion won in the January-March period, reversing from a loss of 271 billion won the previous year,The company is one of few survivors in a ``game of chicken’’ that has lasted in the last few years. ``Tight supply of DRAM chips and limited price falls in

Apr 24, 2013By Kim Yoo-chul

Tech & Science

KT inks deal with Cisco for platform solution

By Kim Yoo-chulKT has signed an agreement with Cisco Systems to develop better Web-based video platform solutions for local companies, KT said in a statement, Tuesday.Under the memorandum of understanding (MOU), the San Jose-headquartered Cisco will construct platforms hosting real-time images and pictures on mobile devices. Korea’s telecommunications giant plans to provide telecommunication services using Cisco’s platforms and handle networks, the statement read.``The partnership is mainly aimed at helping local companies, which have been hesitant to adopt cutting-edge video solutions due to higher costs in investment and network management,’’ a KT spokesman said.With the support from Cisco, the Bundang, Gyeonggi Province-based company plans to launch its ``Olleh Biz Collaboration Hub’’ in the first half of this year. The KT spokesman declined to give further details.``In line with the government’s consistent efforts to revitalize `smart working’ systems, KT has so far been allocating more budget to develop technologies with an aim to

Apr 23, 2013By Kim Yoo-chul

Tech & Science

LG may join IFA global press conference

IFA advises firms to reflect consumer needsBy Kim Yoo-chulJens HeitheckerMesse Berlin executiveSARDINIA, Italy ― A key organizer of the IFA, one of the world’s largest consumer electronics shows, urges firms to “follow the market” to better reflect changing consumer needs in their products.“TV sales are falling because they are being replaced by tablets and smartphones. This trend will be reflected in our show. You have to follow the market to be successful,” said Jens Heithecker, an executive from Messe Berlin, which organizes the IFA.The IFA is held in Berlin in September. The show is often compared to the International Consumer Electronics Show (ICES), which is held in Las Vegas each January.The IFA sees a lot of potential in today’s Web-connected world, Heithecker said.“We provide the only show that suits the needs of the entire manufacturers. The IFA is itself a smart world where all industries get connected,” he said.He added that the IFA creates new demand by actively inspiring people.Asked about the prospects of Korean elec

Apr 23, 2013By Kim Yoo-chul

Tech & Science

Miele to expand presence in Korea

By Kim Yoo-chulMiele CEO Reinhard ZinkannSARDINIA, Italy ― Miele plans to increase its presence in Korea by expanding its luxury lineup to attract wealthy customers, according to the head of German-based premium home appliances maker, Sunday, local time.At a meeting with Korean media at the IFA global press conference in Sardinia, Italy, Sunday, Miele Group Managing Director and CEO Reinhard Zinkann said it aims to target niche markets disregarded by Korean players, such as Samsung and LG Electronics.In his view, Korean firms have different goals and strategies from Miele and have a long way to go to become top players in the coming years because of a lack of investment in the sector.``Nothing is impossible. Either Samsung or LG Electronics may become the world’s top appliances maker in 2015. If they want, then they should spend more on appliances. Miele doesn’t worry too much about the Koreans,’’ Zinkann said.``Both Korean brands Samsung and LG are competing in the appliance industry worldwide and they are attacking fiercely. So we do have to take them s

Apr 22, 2013By Kim Yoo-chul

Tech & Science

'Apple unlikely to launch TV business'

Paul GrayDisplaySearch executiveBy Kim Yoo-chulSARDINIA, Italy _ Apple isn’t positioned well to start its own television business to directly compete with Samsung in the global TV market, according to a global market research firm, Sunday.“The Cupertino-based outfit has very limited product diversity. Most of its key products are selling below $1,000 and high margins,” Paul Gray, an executive of DisplaySearch, told The Korea Times.“When you think about TVs, TVs have much thinner margins but also high product diversity in sizes and regional broadcast variations. The TV business has consistently been driven by new technologies that excite consumers. Apple won’t take a huge risk with unproven technologies.”Gray, a specialist in analyzing the trend in the European TV market, said the large product size means that logistics is a key part of the business, which bodes ill for Apple.The interview was conducted on the sidelines of this year’s IFA Global Press Conference here, which wrapped up Sunday after a four-day run.The executive also said Apple i

Apr 21, 2013By Kim Yoo-chul

Companies

Large firms eye carbon fiber

By Kim Yoo-chulBusiness diversification is the key for most Korean companies during tough economic times. To compete in the difficult climate, top local firms are expanding into biosimilars, solar cells, wind power, rechargeable batteries and advanced monitor displays.Like these emerging industries, the global carbon fiber market is expected to grow. Market analysts predict it would become a $5 billion industry by 2020, a significant climb from this year’s estimated value of $2 billion. According to market officials, demand for carbon will increase as green initiatives become more widespread.It’s still uncertain whether new Korean players will challenge longtime carbon fiber producers in the short term, but a few have already started to do so. Among these businesses are Hyosung, a textile-focused conglomerate, GS Caltex, Taekwang Industrial and Toray Advanced Materials. Carbon fiber products by Taekwang and Hyosung could be used for sports gear, while those of Toray and GS Caltex could be used for car parts and semiconductors.“This is the right time to diversify our

Apr 21, 2013By Kim Yoo-chul

Tech & Science

LG expands support for subcontractors

Cho Suk-jae, third from left, LG Chem president, shakes hands with the Industrial Bank of Korea CEO Cho Joon-hee after they agreed to launch a 200 billion-won fund to help its subcontractors at LG’s headquarters in Yeouido, Tuesday. / Courtesy of LG GroupBy Kim Yoo-chulLG Group said Tuesday it will expand its financial support for subcontractors by investing 200 billion won to launch a fund for mutual growth with small- and medium-sized enterprises (SMEs).``The group’s four affiliates including LG Electronics, LG Chem, LG Display and LG Life Sciences joined hands to create a new fund for shared growth with LG’s local suppliers,’’ said group spokesman Jeong Jung-wook, Tuesday.The Industrial Bank of Korea (IBK) will manage the fund. Jeong said the creation of the fund was aimed at helping LG’s second- and third-tier suppliers. In cooperation with the state-run bank, LG launched its first mutual growth fund worth 340 billion won in September 2010 to support its top-tier subcontractors.In a statement, the group said some 500 second- and third-tier supp

Apr 16, 2013By Kim Yoo-chul

Tech & Science

Samsung boss returns to work

By Kim Yoo-chulLee Kun-heeSamsung Electronics Chairman Lee Kun-hee returned to work Tuesday after a three-month trip to Japan and Hawaii.Lee went to the firm’s headquarters in Seocho, southern Seoul, and was briefed by Choi Gee-sung, head of Samsung’s corporate planning office, on key business issues.It was his first appearance at the office in 137 days, after he participated in an internal event on Nov. 30, 2012. ``The chairman will directly handle several key issues. But it’s too early to say that Samsung will see a major change in the near future,’’ said an official at Samsung.``Lee will present challenging goals to the top management to find next growth engines, which he has prepared during his trip.’’ Samsung said the chairman will fly to the United States next month on a private jet to join President Park Geun-hye’s working visit, during which Park will meet U.S. President Barack Obama on May 7 in Washington.It will be the first time in nine years Lee will accompany a president on an overseas trip.  ``It’s expected the

Apr 16, 2013By Kim Yoo-chul

Kim Yoo-chul

Read more

Galaxy S4 to hit market today

SDS focuses on mutual growth

SK hynix enjoys earnings surprise

KT inks deal with Cisco for platform solution

LG may join IFA global press conference

Miele to expand presence in Korea

'Apple unlikely to launch TV business'

Large firms eye carbon fiber

LG expands support for subcontractors

Samsung boss returns to work

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