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Humbled LG pressed to impress in Las Vegas

By Kim Yoo-chul The planet's most influential technology companies, with the glaring exception of Apple, are flocking to Las Vegas for the annual International Consumer Electronics Show (CES). The trade fair provides a venue for firms to showcase their latest groundbreaking products and technologies that will reshape shopping habits and consumer electronics behavior for the next 12 months and beyond. But for Korea’s LG Electronics, which has been losing groundin its main markets like mobile devices over the past year, Las Vegas will be an opportunity to regain a firm grasp on the present as much as aspire for the years ahead. As in the past few years, futuristic televisions supporting stereoscopic images and Internet connectivity are expected to set the tone for this year’s CES. Attempting to steal the show will be mobile Internet devices like smartphones and touch screen tablets, a path that has been paved by Apple. It will be “me-too” products invading Las Vegas. With Apple snubbing the show, as it always does, Samsung Electronics, the Korean technology giant

Jan 8, 2012By Kim Yoo-chul
Opinion

Samsung’s China factory to dampen SK enthusiasm

By Kim Yoo-chul Samsung Electronics’ plan to build a chip factory in China has many effects. One of them is getting a leg up on SK Group, now in the final stage of absorbing Hynix Semiconductor. On Wednesday, the government gave final approval to Samsung's plan to build its first-ever chip manufacturing plant in southern China. Its legal team reached an agreement to avoid the leak of technology following a request from the Ministry of Knowledge Economy to prepare appropriate measures to protect valued chip-making knowhow. This means the company will be able to proceed with its plan as chances are low that it will be rejected by the Chinese government, which wants to boost regional economies through massive investment. Ironically, the approval could be negative for SK in the short-term. Korea’s anti-trust regulator approved its plan to acquire a 21 percent stake in Hynix Semiconductor. SK, which has been set to invest big in the chip-making business to generate growth, is getting nervous as Hynix’s chip-making technology is at least six months behind that of Sa

Jan 6, 2012By Kim Yoo-chul
Tech & Science

Samsung posts record sales in 2011

By Kim Yoo-chul Samsung Electronics said Friday that last year was a record for the technology heavyweight in terms of revenue. Stellar performances of Samsung smartphones more than made up for declining earnings of its chip and panel businesses amid oversupplies and the eurozone debt crisis, according to Samsung and market analysts. In a statement, Samsung said its revenue for the whole of 2011 amounted to a record high of 164.7 trillion won. Its 2011 operating profit was tallied at 16.15 trillion won. In the fourth quarter alone, it posted an operating profit of 5.2 trillion won, compared with 3.01 trillion won a year ago. But Samsung’s fourth-quarter earnings included its one-time gain of 700 billion won by selling its hard disk drive unit to Seagate Technology. The company’s fourth-quarter revenue was estimated at 47 trillion won. ``We can confirm that Samsung has surpassed 150 trillion won in annual revenue and 15 trillion won in annual profit for the second straight year,’’ said company spokesman Lee Seung-joon. Samsung is targeting 184 trillion won in sales

Jan 6, 2012By Kim Yoo-chul
Tech & Science

Italy rejects Samsung bid to ban iPhone

By Kim Yoo-chul Samsung's attempt to block the sale of the iPhone 4S in Italy has failed. A judge in Milan ruled that Italy won’t block the latest Apple device from stores in the European nation. On Oct. 5th last year, the Korean firm filed a preliminary injunction requesting the court block sales of the iPhone 4S. The ruling from Italy is ``very disappointing’’ for Samsung, the company said. The Italian court’s decision marks the third straight loss for Samsung in its effort to curb Apple handset sales in Europe, and follows similar decisions by France’s Tribunal de Grande Instance de Paris in December 2011 and Dutch court Rechtbank’s-Gravenhage’s ruling in October, said Samsung. Similar efforts are ongoing in Japan and Australia. ``Neither Samsung nor Apple has struck a meaningful victory for `the fight in preliminary injunctions.’ Both Samsung and Apple just took some strategies from either side. Basically, the firm has wasted time and energy,’’ said a Samsung official. Apple won its bid to block the sale of Samsung devices in Germany, Australia and the Netherla

Jan 6, 2012By Kim Yoo-chul
Tech & Science

What has Samsung CEO to say at Las Vegas tech show?

Chairman Lee Kun-hee to be accompanied by his children and top aides By Kim Yoo-chul When Samsung Electronics Chairman Lee Kun-hee participates in the International Consumer Electronics Show (CES) in Las Vegas next week, he will draw keen attention from the global technology community. The company is enjoying record profits for successive quarters and its patent dispute with Apple is no longer in the latter’s favor. It is also marketing one new product after another. All told, Lee is in a position to speak about new rules in the industry. “I will fly to Las Vegas with my children. l will share problems and concerns with my executives,’’ Lee told reporters last week. His top executives will accompany him. Although Samsung officially denies it, sources and analysts expect Lee will disclose “future plans” that may affect the industry’s current paradigms. In the chairman’s entourage will be his only son and heir-apparent Lee Jay-yong, Samsung Electronics’s chief operating officer, and two daughters, Hotel Shilla President Lee Boo-jin and Lee Seo-hyun, executiv

Jan 6, 2012By Kim Yoo-chul
Tech & Science

Samsung bullish on appliance growth

Vows to tackle uncertainties in materials costs By Kim Yoo-chul Samsung Electronics leads its biggest cross-town rival LG Electronics in almost all consumer gadgets such as TVs and smartphones. However, LG still has the edge over Samsung in air-conditioning. But Samsung is looking to overtake LG in that sector as well, with company chief executive Choi Gee-sung giving more authority to his top confidant Yoon Boo-keun. Yoon helped Samsung beat Japan’s Sony to become the world’s biggest TV manufacturer, according to company officials. Samsung executives have vowed to strengthen the product quality of the firm’s air conditioners after a rare public apology was issued over malfunctions of its products last year. Now the company has confirmed its intention to surpass LG in terms of growth rates. ``Samsung will grow by more than 15 percent globally in air conditioners this year from the previous year,’’ said Samsung senior executive vice president Park Jae-soon, Thursday. LG’s growth projection for this year is 10 percent. Speaking to foreign and local media, the exe

Jan 5, 2012By Kim Yoo-chul
Tech & Science

Samsung plans to cater better to corporate clients

By Kim Yoo-chul Samsung Electronics has been launching a strategic attack on business-to-business (B2B) markets with plans to hire more experienced experts and to fine-tune strategies. B2B is quite an old term but the concept is apparently back with a bang this year with new and advanced tools to enable firms to mine data, communicate better, target customers and analyze their own performance on a real-time basis. Such moves have come after top decision-makers, including company chief executive officer Choi Gee-sung, reached a broad consensus to further boost revenue of the technology heavyweight to achieve its revenue target of $400 billion by the end of 2020, according to Samsung officials. Its B2B business accounted for less than 10 percent of total revenue last year, Samsung said. Some results have been achieved from businesses with corporate clients by continuing focused and targeted approaches in this area, officials said. But a rise in Samsung’s brand recognition from products to corporate values is urging it to do more in B2Bs. ``Samsung is planning to

Jan 4, 2012By Kim Yoo-chul
Tech & Science

LG to keep edge in air conditioners

Number of factors challenging comeback-seeking electronics giant By Kim Yoo-chul LG Electronics is aiming to keep its current lead over the rival Samsung Electronics in the air-conditioning business as strenuous effort in selling premium models is paying off, said a company executive Wednesday. But the company has to tackle growing market uncertainties such as rising costs of materials and a slowdown in growth rates in key emerging economies including China. Macro-economic and currency moves are the key factors in gauging the profitability of the air-conditioning business because consumers usually cut their spending on home appliances when economies are in trouble. ``LG Electronics is aiming to achieve $10 billion in sales of air conditioners by the end of 2015. It is likely that we will miss our previous targeted date of 2013,’’ said Nho Hwan-yong, the president and chief executive of LG’s air-conditioning and energy solutions division. Speaking to the media on the sidelines of the introduction of new models for this year held at a Seoul hotel, Nho said last year’s

Jan 4, 2012By Kim Yoo-chul
Companies

Lee stresses duty of ’people’s firm’

By Kim Yoo-chul Samsung Electronics Chairman Lee Kun-hee Monday accented the role of a responsible corporate citizen as the “people’s company” for the business conglomerate. “The global economy will see little growth so it is our responsibility to help advance the nation’s economy,” said Lee. He made the remarks during a New Year ceremony to exchange greetings with company executives at the Shilla Hotel in downtown Seoul. The chairman said Samsung will make more investment in facilities and expand hiring, expressing his hope that other firms will increase their capital expenditure to help the sagging local job sector find strong momentum. The conglomerate is expected to invest a record 50 trillion won this year, including 38 trillion won by the group’s flagship Samsung Electronics alone, according to company officials. “Samsung should focus on investment, exports, finding new business fields and releasing and developing new products this year to effectively combat risks arising from a slow global economy and embrace chances in the industry,” Lee said. He confirm

Jan 2, 2012By Kim Yoo-chul
Tech & Science

Lee Suk-chae - agent of big change

KT CEO seeks hardware-software convergence during second term By Kim Yoo-chul KT Chairman Lee Suk-chae said he will accelerate efforts to make the company a ``market creator’’ in an era of convergence between hardware and software. The bureaucrat-turned-executive has spearheaded the restructuring of Korea’s second-biggest mobile carrier, including cutting jobs. KT’s board recently nominated the incumbent head for a second-term, giving him credit for helping the firm establish a presence in the local smartphone market. ``If our shareholders give the green light for me to work for a second term, then I will make KT the world’s best technology firm,’’ Lee said Monday. ``I can say we’ve had half a success over the last three years. The company has been pursuing steady changes in our corporate culture by adding innovation and creativeness. I hope to complete the ongoing job.’’ The chief executive was speaking to local and foreign media on KT’s 4G long-term evolution (LTE) strategies at its headquarters in Seoul. LTE is faster in terms of downloading speed for mobi

Jan 2, 2012By Kim Yoo-chul
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