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LG sees red on smartphone woes

Hynix extends profit streak in third quarter By Kim Yoo-chul LG Electronics reported its worst-ever quarterly operating loss for the July to Sept. period, which industry observers consider an inevitable result for napping during the smartphone boom. The company appears to be losing ground in consumer electronics, including flat-screen televisions and white goods, adding to the headaches of new chief executive Koo Bon-joon. The outlook is bleak for the fourth quarter as well as LG Electronics finds its star quickly fading in mobile phones and its television business, strained by intensifying price competition against other major makers such as Samsung Electronics and Sony. LG Electronics’ third-quarter net profit of 7.57 billion won (about $6.7 million) represented a staggering 99.2 percent decline from last year’s numbers, while its operating loss of 185.2 billion won was the first time the company dipped into the red in the category since 2007. Revenue dropped 2.1 percent to 13.43 trillion won in the quarter, LG Electronics said in a regulatory filing, Thursday.

Oct 28, 2010By Kim Yoo-chul
Tech & Science

Samsung SDI raises profit on batteries

By Kim Yoo-chul Samsung SDI has recorded a healthy report in the latest quarter thanks to the rising shipments of electronic components such as value-added batteries and advanced displays. The improvement in profit comes amid the growing popularity of high-end digital consumer devices that include smartphones and tablet-style PCs, according to Samsung officials. Samsung SDI supplies small-sized rechargeable batteries to Samsung Electronics and Apple, while the unit is also shipping organic OLED or OLED displays to Samsung Group’s electronics unit via the joint venture ― Samsung Mobile Display (SMD). The operating profit during the third quarter of this year was 123.8 billion won or $110.2 million ― an increase of 4.6 percent year-on-year, though the company reaped 1.35 trillion won in sales during the July-September period, it said in a regulatory filing to the Korea Exchange (KRX), Wednesday. ``We’ve received increased battery orders from major tablet-PC and smartphone manufacturers. Also orders for plasma panels for three dimensional (3D) televisions have seen a rapi

Oct 27, 2010By Kim Yoo-chul
Companies

Samsung SDS strikes $20 million deal in China

By Kim Yoo-chul Samsung SDS said Tuesday that it has clinched a 23 billion won automatic fare collection (AFC) deal in China. SDS will provide its AFC system on subway line 2 in the city of Chengdu, it said in a statement. AFC is a system for processing, purchasing and checking the collection of tickets and related statistical work through information systems. SDS expects the deal will pave the way for the company to win more orders in China as well as other countries. ``Samsung SDS has beaten 10 other major competitors for the project. Despite a higher order price compared to our rivals, SDS made the significant advance through its recognized proven technical power,’’ said a company spokeswoman, Lee Eun-young. The line with 32 stations will open by the end of 2016. Under the agreement, SDS will handle design, development, production and delivery systems, in addition to the development of the AFC system and even the equipment for the stations, according to the statement. Since 2002, SDS has been handling AFC projects in other big Chinese cities of Guangzhou, Beij

Oct 26, 2010By Kim Yoo-chul
Opinion

Has Koo Bon-joon found way to resuscitate LG?

By Kim Yoo-chul PAJU, Gyeonggi Province ― LG Group is trying hard to find a breakthrough in its critical but stalling display-related businesses amid a more uncertain outlook. LG Group has LG Electronics, LG Display, LG Chem and LG Innotek as key affiliates handling television and value-added, embedded light emitting diode (LED) applications. Since early last year, however, it has been facing the challenge of taking a ``first-mover’’ advantage in the next-generation consumer display products such as LED-backlit LCD TVs and three dimensional (3D) televisions due to what analysts say is the lack of an integrated and customized strategy. In 3D televisions, LG Electronics has shown a meager increase in its global share, while the group’s component-making unit LG Innotek is struggling to push its LED business, which the group has embraced as a next cash-cow. “We have no time to lose. Time is crucial but LG has been late to respond to future markets. We need strong leadership to revive sagging momentum in the display business,’’ said a representative at LG Innotek’s new fact

Oct 26, 2010By Kim Yoo-chul
Tech & Science

Big firms realigning China strategies

By Kim Yoo-chul Top exporters are making more resources available in order to localize operations in China. The move comes after Beijing recently renewed its determination to boost its own industries and improve their innovative edge. Last week, China unveiled its development agenda for 2011-2015, setting out goals of finding breakthroughs in economic restructuring, while boosting the people’s standard of living. It is widely interpreted as Beijing’s shift in focus from its decades-long heavy dependence on heavy equipment, external growth and clarification to fostering balanced economic growth. China is the biggest market for Korean goods. On Tuesday, Samsung Electronics, LG Electronics, steel giant POSCO and Hyundai-Kia said they will further diversify their approach to China. This is expected to entail a sweeping change in production facilities, distribution channels, product lineup and to strengthen corporate social responsibility (CSR) activities. Samsung Electronics, which has been continuing its consistent sales growth in China, is planning to lure cust

Oct 26, 2010By Kim Yoo-chul
Tech & Science

Samsung SDS unveils toll collection system

By Kim Yoo-chul Samsung SDS, the system integration firm of Samsung Group, has unveiled its advanced toll system at an industry fair, which will run through Friday in Busan. SDS said the latest system is based on 900 megahertz passive radio frequency identification (RFID) technology ― the first passive toll collection RFID solution. It cuts costs and processing time when a vehicle approaches a toll gate. In a statement issued on Monday, SDS said the system uses a sticker-type tag, which doesn’t require a certain power supply, cutting down the possibility of a system failure caused by a dead battery or power supply interruption. SDS claims the tag communicates with the antenna when a car approaches a highway toll booth and the system processes data stored in the RFID tag in which the vehicle number, type and ID is kept. ``The system even collects tolls accurately from a car driving at a speed of 160 kilometers per hour. SDS is in the process of getting a certification for the new technology,’’ said a company spokeswoman Lee Eun-young. Lee said Samsung is aiming to ta

Oct 25, 2010By Kim Yoo-chul
Tech & Science

SKT eyes open-source OS

By Kim Yoo-chul SK Telecom has vowed to shift its key business focus to developing a mobile operating platform to ultimately compete with Apple's iOS and Google's Android operating systems (OS). SKT chief executive Jung Man-won said Monday the carrier will develop its own OS based on the open-source Linux-based new mobile operating system. "Although SKT has not so far tried to develop an OS like iOS and Android, we have chosen to find the next best alternative," Jung told reporters at an event to open a laboratory on the campus of Seoul National University (SNU). ``Several European mobile carries such as Telefonica are planning to develop a Linux-based new mobile OS and China Mobile has been in talks to create an Android-plus OS. SK will participate in an effort to make a new mobile OS,’’ said the chief executive. ``It is free to use Google’s Android OS as Google wants to embed its mapping and other service platforms into the system. SK Telecom needs to have similar but independent one to provide self-developed service platforms without charge,’’ Jung said. As an

Oct 25, 2010By Kim Yoo-chul
Others

Doosan sets example of Korea Inc.s resilience

Light-industry conglomerate turns into heavy-industry cluster By Kim Yoo-chul Doosan Group ― the nation's oldest conglomerate whose key business areas range from construction, desalination, power plants to heavy equipment ― is set to further raise its international profile by using the upcoming G20 summit as the right forum for its future. Group officials say its chairman Park Yong-hyun is planning to hold several strategic meetings with high-profile executives from international companies as the business summit is crucial for Doosan to boost its corporate brand awareness. "Doosan is planning to use the business summit as a springboard to raise our international presence," said a senior group spokesman Shin Dong-gyu, Monday. Doosan, which has recently struck a series of sizable acquisition deals in the United States and the Czech Republic, is aiming to create 15 trillion won ($12 billion) in sales outside the peninsula this year. That's some 60 percent of this year’s total sales target of 24.4 trillion won, according to Shin. Doosan's key affiliates have about

Oct 25, 2010By Kim Yoo-chul
Tech & Science

Antitrust watchdog target Apple

Debate continues over after-sales policies for iPhones By Kim Yoo-chul The Korea Fair Trade Commission (FTC), the country's antitrust regulator, has vowed to investigate Apple and its customer support policies for iPhone users here, as a growing number of customers are complaining about poor after-sales services when they return their faulty handsets. The FTC says it is working together with the Korea Communications Commission (KCC), the country's converged regulator for broadcasting and telecommunications, to seek ways to take an action against possible violations in after-sales services rules by the American technology giant.

Oct 24, 2010By Kim Yoo-chul
Companies

SK C&C to start mobile commercial operations

By Kim Yoo-chul SK C&C, the information-technology (IT) service unit of the SK Group of companies, is attempting to hit the gold trail in the United States through electronic commerce services based on mobile devices. The company’s goal is to achieve around $100 million in annual revenue from its mobile commerce business in the U.S. by 2012, according to a company executive. SK C&C recently inked a partnership with First Data Corporation, a major developer of e-commerce and payment processing services, with the aim to penetrate the mobile commerce services market in the U.S. and eventually worldwide. Due to the rising popularity of smartphones and other portable devices like tablet computers the mobile commerce market in the U.S. has been growing rapidly. SK C&C is expecting to find immediate demand for its services from U.S. telecommunications carriers and financial services firms. ``Our goal is to claim 40 percent of the U.S. mobile commerce market, which will account for around $100 million in sales,’’ said Yook Sang-kyun, a senior official at the company’s mobil

Oct 21, 2010By Kim Yoo-chul
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