Samsung to invest 160 bln Dollars, hire 40,000 for next 3 years

The investment is part of a wider $160bn push by Samsung to create new jobs, expertise and revenue under the restored leadership of Vice Chairman Lee Jae-yong after he was freed from prison.

Samsung has a reputation for forging ahead with investment even when competitors brace for a slowdown, a strategy that's helped it emerge as the world's biggest chipmaker after surviving one crunch after another. Samsung said KRW130 trillion (€100.13 billion) of this bonanza will be spent in its native Korea. With its investment in AI, it will increase its own capability, increasing the number of researchers to 1,000 across its global AI Centers.

Samsung also announced a set of initiatives to become a leading force in building and energising the ecosystem of innovative businesses for the digital economy.

"Today's announcement follows many months of deliberations and review by the management and board of directors of different Samsung companies that will make the investments, including Samsung Electronics", said the company.

In flagging specific areas of investment, the plan is the first of its kind for the conglomerate and suggests more emphasis than usual on expanding into new segments as its core semiconductor and smartphone businesses show signs of weakness. The numbers being proposed are much higher than the 25,000 the company hired in the recent three years.

Samsung launches Fortnite for Android exclusive
While the Samsung Galaxy Note 9 isn't as exciting as the Note 8, it's still a very, very refined and capable flagship smartphone . The camera uses artificial intelligence to identify up to 20 types of scenes, including landscapes, food, flowers and people.

Manafort's 'right-hand man' to testify in fraud trial
Gates, who pleaded guilty and is cooperating with the special counsel, is expected to be the star prosecution witness. Laporta, who was granted immunity , testified that she changed the loan amount but "very much" regretted her actions.

Trump Administration May Freeze Fuel Efficiency Standards
By 2027, Trump officials argue that keeping the standards could raise vehicle sticker prices by more than $2,300. Jerry Brown said in a statement that the state "will fight this stupidity in every conceivable way possible".

"Samsung has seen strong growth from both its contract manufacturing and biosimilar businesses".

The company said it "expects innovations powered by AI technology will drive the industry's transformation, while the next-generation 5G telecommunications technology will create new opportunities in autonomous driving, the Internet of Things (IoT) and robotics".

Samsung Electronics shares were marginally down in afternoon trade against a flat Kospi index. Lee was freed after almost a year in jail but former President Park Geun-hye and a close associate remain imprisoned for bribery and other charges.

Last week, Samsung Electronics posted its slowest quarterly profit growth in more than a year following a slowdown in the global smartphone market.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Exotic Cars Which Included Lamborghinis, and Porsche Crushed Under Bulldozer
President Duterte has overseen another crushing of smuggled luxury cars and motorbikes worth almost 300 million pesos. Wearing a construction hat, Duterte watched as the cars were smashed from behind class.

Is McDonald's MacCoin a cryptocurrency? Restaurant chain to launch the
Customers can now log online for free at approximately 11,500 participating Wi-Fi enabled McDonald's USA restaurants. McDonalds says about 550 million Big Macs are sold annually, so in 50 years that's. um, well. a lot of Big Macs.

Manchester United confirms that Valencia has become permanent captain
Anthony Martial can be "one of the best players in the world", according to Manchester United team-mate Ander Herrera . Chelsea FC have so far only made one signing this summer after having brought in Jorginho from Napoli last weekend.

Manchester United fans furious with club hierarchy following transfer deadline day
As it stands, Alderweireld and Maguire are considered too expensive, while Bayern Munich have knocked back a loan move for Boateng.

'Bachelor in Paradise' preview: Colton and Tia finally come face-to-face
Ultimately, when the cast assembles itself, her bachelor of choice is nowhere to be found. Of course, in between their joy, we had to be reminded of Blake's pain.

What We Know About the 9 Astronauts Flying the New Commercial Ships
The SpaceX crewed test flight, now scheduled for April 2019, will be flown by NASA astronauts Robert Behnken and Douglas Hurley. Victor Glover: Glover was selected as an astronaut in 2013 after a career in the Navy as a test pilot.

Google officially names Android 9 as Android Pie
Google is dropping a major surprise on us today and releasing the final consumer-ready version of Android P. It has a final name: the version number is "9" (not "9.0"), and we know what the "P" stands for: " Pie ".

Demi Lovato 'Understands The Severity' Of Her Apparent Overdose
The singer's bodyguard, who rushed to the bedside of the stricken pop star, is now being credited with saving her life. News on Friday. "She is starting to grasp the severity of what happened and that she nearly died".

Caracas drone explosion 'attack on Venezuela President Maduro' - government
According to a report at the Washington Post , firefighters on the scene are disputing the government's version of the events. Two drones loaded with explosives detonated near Venezuelan President Nicolás Maduro today, authorities have confirmed.

Pep Guardiola lauds Bernardo Silva's 'masterpiece' Community Shield display
Manchester City , use the stream provided by ESPN +, the online subscription sports network of the sports media giant ESPN . Saturday will mark the tenth anniversary of Sheikh Mansour's purchase of the club and what a transformation he's made.

Watch Tiger Woods Sink Ridiculous 50-Foot Putt At WGC-Bridgestone Invitational
Since then, Woods has been hampered by the back trouble that led to spinal fusion surgery in April of previous year . He could probably take two, three weeks off and he s going to get it around here fine, because he knows how to.

‘Vaginal Rejuvenation’ Devices Have Serious Side Effects, Unproven Claims: FDA
Mazur, a spokeswoman for Hologic Inc. whose subsidiary sells the MonaLisa Touch, said they were reviewing the FDA notice. But their use to treat vaginal dryness , itching and laxity, the FDA said, has not been approved.

Expected star witness may not testify in Trump ex-aide Manafort's trial
The comments were the first volley in the bank fraud and tax evasion trial. "It's not the American way", the judge said. Asonye told Ellis Wednesday afternoon that prosecutors could rest their case as early as next week.

Iran facing worst economic CRISIS country has ever seen after Trump sanctions
They have also continued to develop their missile systems, including long-range weapons that put Israel and USA interests at risk. Trump warned on Monday of "severe consequences" for people or entities that fail to wind down economic activities with Iran.

Apple has become America's first trillion-dollar company
Those earnings beat Wall Street expectations on the top and bottom lines, but iPhone sales fell slightly short. At our closing share price of $207.39, the stock market now values Apple at more than $ 1 trillion .


More News

News
More News