October 09, 2019

Samsung Is Pouring $11 Billion Into Next-Generation Displays
(Bloomberg) -- Samsung Display Co. plans to spend 13.1 trillion won ($11 billion) developing and building next-generation displays, responding to a flood of supply and price pressure from fast-moving Chinese rivals.In an announcement event attended by Korean President Moon Jae-in and Samsung Electronics Co. Vice-Chairman Jay Y. Lee, the investment was presented as a move to reorganize the display industry while maintaining Samsung’s global lead and Korea’s established dominance. The government will invest about 400 billion won into next-generation displays to propel that objective, Moon said.The Samsung unit will build a quantum-dot display production line in Asan, according to a company statement, which will begin operations from 2021 with an initial annual capacity of 30,000 panels larger than 65 inches. Production will then scale up from there, with a long-term development plan that stretches out to 2025. The investment will help create 81,000 jobs, the company added.Samsung and cross-town rival LG Display Co. are grappling with a surge of competition from Chinese suppliers such as BOE Technology Group Co., which in recent years have ramped up liquid crystal display-making capacity and are increasingly making inroads into next-generation screens. To offset a decline in margins and loss of clients, Samsung is moving forward with development of quantum-dot displays.Samsung’s heir and de-facto leader Lee has pledged to invest for the long-term in the display business, which is one of the three main pillars -- alongside memory chips and smartphones -- in which the Korean tech champion is world leader. The company is making a huge bet on the market as the business environment deteriorates and a trade spat between Korea and Japan creates uncertainty around the supply of chemicals and components necessary to manufacture advanced displays. This week, Samsung reported a quarterly profit decline of more than 50%, though that was less of a fall than anticipated.Read more: Samsung Beats Estimates as Demand Picks Up for Note, IPhoneKorea’s largest company is the world’s foremost producer of high-margin OLED displays, but hit a snag last year when orders from Apple Inc. underwhelmed after the marquee iPhone XS fared worse than expected. It remains to be seen how enticing the new iPhone 11 Pro models will be to consumers over the critical holiday shopping season, though analysts are growing optimistic on demand.Away from displays, the unpredictability surrounding tensions between the U.S. and China -- where Samsung earns a big chunk of revenue -- has led to a downturn in the chip industry at a time when smartphone demand tapers off and the pace of data center construction decelerates.(Updates with details on Samsung’s timeline from the third paragraph)To contact the reporter on this story: Sohee Kim in Seoul at skim847@bloomberg.netTo contact the editors responsible for this story: Peter Elstrom at pelstrom@bloomberg.net, Edwin Chan, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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Mary Trump 'energized' as uncle 'Donald's campaign spirals into chaos'
Mar 29, 2024
Donald Trump's campaign is in chaos, and his niece says she's energized.Mary Trump, the niece of the former president and a psychologist by trade, has previously been critical of her uncle.On Thursday, she said her uncle's failures are adding up.ALSO READ: A neuroscientist reveals how Trump and Biden's cognitive impairments are different"As the RNC’s fundraising falters and Donald’s campaign spirals into chaos, I am energized!" she said in a Substack post.She then continued:"When Donald dominates the news cycle, it’s hard not to feel overwhelmed. Every bad headline has a negative impact. But then I remember something crucial: There’s usually more to the story than meets the eye. I’m determined to cut through the media noise and share with you all the good that happened this week. These are the headlines we need to remain energized and hopeful that the media largely ignored."Mary Trump goes on to highlight President Joe Biden's recent fundraising hauls."President Biden’s $155 million+ war chest has just received another turbo boost, bringing the total of cash on hand to at least $180 million. (By comparison, between his campaign and the RNC, Donald barely has over $50 million — and continues to drain the accounts to cover his absolutely staggering legal expenses)," she wrote. "This is a development that could significantly increase Biden’s ability to influence the narrative in crucial swing states."This, she says, also tells us a lot about voter excitement for Biden."While critics have expressed doubts about the degree to which the Democratic base is fired up as compared to 2020, today’s $25 million fundraiser, raised with donations ranging from $250 to $500,000, should put any doubts to rest — yes, we are absolutely behind President Biden and Vice President Harris and we’re in this fight until the end," she wrote.Read the full post here.
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