Samsung Archives - Citi 97.3 FM - Relevant Radio. Always https://citifmonline.com/tag/samsung/ Ghana News | Ghana Politics | Ghana Soccer | Ghana Showbiz Thu, 22 Feb 2018 07:36:46 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.8 https://citifmonline.com/wp-content/uploads/2019/05/cropped-CITI-973-FM-32x32.jpg Samsung Archives - Citi 97.3 FM - Relevant Radio. Always https://citifmonline.com/tag/samsung/ 32 32 Samsung app leaks images of Galaxy S9 https://citifmonline.com/2018/02/samsung-app-leaks-images-galaxy-s9/ https://citifmonline.com/2018/02/samsung-app-leaks-images-galaxy-s9/#comments Thu, 22 Feb 2018 07:36:46 +0000 http://citifmonline.com/?p=403443 Pictures of Samsung’s latest flagship phone have been disclosed by an app released by the firm itself. The images were discovered hidden via a hack of Unpacked 2018, a program that the company has asked invitees to Sunday’s launch of the handset in Barcelona to download. The disclosure backs up details divulged by earlier unverified leaks […]

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Pictures of Samsung’s latest flagship phone have been disclosed by an app released by the firm itself.

The images were discovered hidden via a hack of Unpacked 2018, a program that the company has asked invitees to Sunday’s launch of the handset in Barcelona to download.

The disclosure backs up details divulged by earlier unverified leaks about the Galaxy S9.

Experts say the revelations threaten to detract from the official unveiling.

The images of a computer-generated model of the phone were apparently created to provide an augmented reality experience at Samsung’s Mobile World Congress press event, according to the news site XDA Developers.

It was first to publish the photos. It said they were sourced from an anonymous Reddit user who had decompiled the Android version of the app’s software and then used the findings to fool Samsung into sharing the imagery.

“The 3D models that we obtained were lifted directly Samsung’s server where they are hosted,” Mishaal Rahman, XDA’s editor-in-chief told the BBC.

“There’s no doubt [they are real].

“I think this is the cherry on top of things… anything that is published ahead of Samsung’s event is an embarrassment to them as I’m sure they wanted to keep this a secret.”

Unpacked appThe Unpacked app is made for attendees of Samsung’s event but can be downloaded by anyone

The leak confirms the device strongly resembles its predecessor the Galaxy S8 with minor tweaks, including the fingerprint sensor being moved underneath the rear camera.

A spokesman for Samsung said it did not comment on rumours or speculation.

‘Particularly acute’

Venture Beat reporter Evan Blass had already tweeted several matching renders of the handset since late-January.

In addition:

  • the German-language site WinFuture had published dozens of pictures that appeared to have been made for the phones’ marketing campaign
  • an image shared online, allegedly of the device’s box, indicated the phones would include a dual aperture camera – meaning users will be able to adjust how much light is captured. This was supported by subsequent leaks
  • a Reddit user hosted a Q&A about the S9 after claiming to have handled it for 20 minutes

“This matters,” commented Ben Wood from the CCS Insight consultancy.

“It’s very hard to get people excited about a product that leaks suggest is more of an iterative update to the existing S8 than something more disruptive.

“The leaks seem to have been particularly acute on this occasion and may cost the firm a ‘wow’ moment at its event. But Samsung is not alone in having this problem.”

Apple notably suffered a major leak of its own in September after two news sites were given access to iOS 11’s code before its release.

iPhone XOne tech blogger wrote that more surprises had been spoiled by the iPhone X leak than any other in Apple’s history

The breach confirmed many details about the iPhone X including its name, face-scanning features and animated emojis.

Claimed leaks about forthcoming Lenovo, Nokia, Asus and Sony phones have also been published online ahead of MWC – but none have been tied to the manufacturers in the way Samsung’s Unpacked app has done.

Marketing frenzy

Samsung’s launch is expected to be the biggest – and most expensive – at this year’s MWC, which runs until Thursday 1 March.

“There is still merit in holding set-piece launch events because it offers an opportunity to deliver all the messages about the product in a controlled environment,” said Mr Wood.

“For Samsung in particular, it allows it to flex its marketing muscles.”

But one tech blogger, who will also be attending, cautioned against assuming everything had already been disclosed.

“Often people think they know exactly what’s coming and then it turns out there’s something else,” said Holly Brockwell.

“A good example would be an HTC event where its phone had already leaked, and we were sitting there feeling pretty smug, and then it revealed the Vive virtual reality headset, which we didn’t know anything about. That was pretty amazing.

“Anyway, a lot of these rumours become fuel to the fire and make people more excited about the launch.”

Samsung has proven itself capable of keeping surprises to itself in the past.

Mark ZuckerbergSamsung’s audience was caught by surprise when Facebook’s chief executive appeared in 2016

An appearance by Facebook’s Mark Zuckerberg to promote its own virtual reality tech at Samsung’s 2016 MWC event was kept under wraps until he entered the hall.

“That provided one of the most memorable moments of any launch in the past decade,” acknowledged Mr Wood.

Source: BBC

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Samsung heir freed from S Korea jail https://citifmonline.com/2018/02/samsung-heir-freed-s-korea-jail/ Mon, 05 Feb 2018 06:42:44 +0000 http://citifmonline.com/?p=398324 Samsung heir Lee Jae-yong has been freed from jail after a South Korean court suspended his five year jail term for bribing the country’s ex-president. An appeals court upheld parts of the conviction, but used its discretion to release the executive. South Korea’s supreme court is expected to appeal against the decision. The case gripped […]

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Samsung heir Lee Jae-yong has been freed from jail after a South Korean court suspended his five year jail term for bribing the country’s ex-president.

An appeals court upheld parts of the conviction, but used its discretion to release the executive.

South Korea’s supreme court is expected to appeal against the decision.

The case gripped the public amid growing anger against the country’s biggest companies, known as chaebols.

Scandal

Last year a lower court jailed Lee for corruption in a political scandal that ultimately brought down former President Park Geun-hye.

The Samsung Electronics vice chairman, who is also known as Jay Y Lee, who had been detained for nearly a year, appealed against both the verdict and sentence.

The scandal exposed the ties between family-run conglomerates and political powers.

Samsung Electronics is regarded as the jewel in the crown of the Samsung Group conglomerate, which is made up of 60 interlinked companies.

Lee has effectively directed operations at Samsung Electronics since his father, Lee Kun-hee, was incapacitated by a heart attack in 2014.

Source: BBC

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Samsung enters crypto-currency chips business https://citifmonline.com/2018/02/samsung-enters-crypto-currency-chips-business/ Thu, 01 Feb 2018 06:30:32 +0000 http://citifmonline.com/?p=397067 Samsung Electronics has revealed it is making chips designed specifically to harvest crypto-currency coins. The firm made the disclosure in its latest earnings report, where it said the activity should boost its profits. The report also confirmed that the South Korean company overtook Intel to become the biggest chipmaker last year. And it forecast strong demand […]

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Samsung Electronics has revealed it is making chips designed specifically to harvest crypto-currency coins.

The firm made the disclosure in its latest earnings report, where it said the activity should boost its profits.

The report also confirmed that the South Korean company overtook Intel to become the biggest chipmaker last year.

And it forecast strong demand for its forthcoming Galaxy S9 smartphone, which is due to be revealed on 25 February.

Samsung Electronic’s fourth quarter net profit totalled 12.3tn won ($11.5bn; £8.1bn), which was roughly in line with analysts’ expectations.

But its shares jumped nearly 9% after the company revealed that it was splitting its stock 50-to-1, which should encourage trade in the asset.

Asic’s advantage

For now, Samsung is providing little detail about its new crypto-currency business.

“Samsung’s foundry business is currently engaged in the manufacturing of crypto-currency mining chips,” it said in a statement given to the BBC.

“However we are unable to disclose further details regarding our customers.”

Mining, in this context, refers to solving complex mathematical problems as a means to verify crypto-currency transactions – a task for which the owners of the computers involved are rewarded with new digital tokens or “coins”.

The Bell, a Korean-language newspaper, has reported that the processors involvedare Asic (application-specific integrated circuit) chips.

These are chips that are custom-designed to carry out a single task – in this case “mining” Bitcoin or another specific crypto-currency – but not general computing operations.

Until 2013, Asic chips were more commonly associated with the TV industry.

But that year, a New York-based entrepreneur began selling processors custom-designed for Bitcoin mining, which promised better performance and lower energy use than GPU (graphics processing unit) chips, which are still more commonly associated with the task.

In recent months, a shortage of high-end GPU cards has pushed up their prices, making the rival Asic technology even more appealing.

Mining rig

 

According to The Bell, Samsung completed development of its own Bitcoin-related Asic chip last year and began mass production earlier this month.

Until now, Taiwan’s TSMC was the only other major processor-manufacturer engaged in the activity.

One expert said Samsung’s move represented a bet that Bitcoin’s rise in value does not represent a bubble that is about to burst.

“We don’t know how low Samsung can sell its chip for and still be profitable,” said Garrick Hileman, a crypto-currency researcher from the University of Cambridge.

“But if Bitcoin’s price were to collapse and enter a bear market like in 2014 to 2015, one would wonder if Samsung would stay with this line of business through such a turn.”

Taking top spot

Samsung’s latest venture coincided with news that its semiconductors division logged 74.3tn won ($69.6bn; £49.1bn) of sales last year.

That compares with a figure of $62.8bn reported by Intel last week.

It marks the first time the US firm has not occupied the top spot since 1992, according to the Bloomberg news agency.

Samsung devices

Much of Samsung’s success is down to the popularity of its memory chips – it highlighted demand from the computer server and mobile device storage markets in particular.

Intel is hoping to increase its own market share in the sector by offering a new proprietary memory technology called 3D Xpoint, which it began selling last year.

However, it risks being distracted by the need to redesign its processor chips after a flaw with their current architecture was recently revealed.

Source: BBC

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Samsung staff, retailers volunteer to support ‘Operation Smile’ https://citifmonline.com/2017/12/samsung-staff-retailers-volunteer-support-operation-smile/ Wed, 13 Dec 2017 06:01:54 +0000 http://citifmonline.com/?p=383095 Employees and partners of technology giant Samsung Electronics Ghana have engaged in a corporate social responsibility (CSR) initiative through their partnership with international medical group Operation Smile to fund free cleft surgeries in Ghana. The Samsung team together with their key trade partners of which included Compu-Ghana, Electroland and Franko Trading, visited the Koforidua Regional […]

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Employees and partners of technology giant Samsung Electronics Ghana have engaged in a corporate social responsibility (CSR) initiative through their partnership with international medical group Operation Smile to fund free cleft surgeries in Ghana.

The Samsung team together with their key trade partners of which included Compu-Ghana, Electroland and Franko Trading, visited the Koforidua Regional Hospital where the Electronics provider funded cleft surgeries for close to 150 children. Samsung’s contribution to the initiative was $50,000.

Through its “Smile with Samsung” project, the company is donating $1 for every authorized smartphone bought towards free cleft surgeries from now until the end of January 2018.

The team were involved in organizing logistics for the operations, registering of patients, playing with the children and also congratulating patients who came out of surgery.

Statistics indicate that every three minutes somewhere in the world a child is born with a cleft. In Ghana, this equates to one out of every 750 births. Despite the fact that a cleft can be fixed with a simple surgery lasting just 45 minutes, one out of every 10 children with cleft dies before their first birthday.

Commenting on the initiative, Tracy Kyei, Marketing Manager at Samsung Ghana said: Our aim is to support a worthy cause in which our customers can partake – we want them to be proud to own a Samsung phone. We are grateful to all our customers for choosing Samsung and intend supporting this initiative to put smiles on the faces of children during this festive season”.

She urged all customers who purchase a Samsung device to register on the e-warranty to ensure Samsung recognizes the sale. “They will then receive a confirmation message, via SMS, that $1 has been donated to the “Smile with Samsung” project” Ms. Kyei added.

Source: Samsung

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Samsung Electronics CEO resigns over ‘unprecedented crisis’ https://citifmonline.com/2017/10/samsung-electronics-ceo-resigns-over-unprecedented-crisis/ Fri, 13 Oct 2017 07:19:22 +0000 http://citifmonline.com/?p=361571 Samsung Electronics chief executive Kwon Oh-hyun has resigned citing an “unprecedented crisis”. It is the latest management upheaval at the firm after the heir of the entire Samsung Group was imprisoned for corruption in August. Mr Kwon is one of three co-chief executives of Samsung Electronics. His resignation comes on the same day the firm […]

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Samsung Electronics chief executive Kwon Oh-hyun has resigned citing an “unprecedented crisis”.

It is the latest management upheaval at the firm after the heir of the entire Samsung Group was imprisoned for corruption in August.

Mr Kwon is one of three co-chief executives of Samsung Electronics.

His resignation comes on the same day the firm forecast record quarterly profits, citing higher memory chip prices.

Mr Kwon, who also serves on the board of Samsung Electronics, said he had been thinking about his departure “for quite some time” and could “no longer put it off.”

“As we are confronted with unprecedented crisis inside out, I believe that time has now come for the company [to] start anew, with a new spirit and young leadership to better respond to challenges arising from the rapidly changing IT industry,” he said in a statement.

He will remain on the board of Samsung Electronics until March 2018.

Ryan Lim, founding partner of the Singapore technology consultancy firm QED said “Samsung is in a leadership crisis situation”.

Mr Lim said “the current management structure seems to be a complicated web that does not clarify, but rather confuses”.

“This needs to be resolved soon as it can be worrying not to know who is truly steering the Samsung behemoth into the future,” he said.

In response to the criticism, a spokesperson for Samsung told the BBC that a successor would be appointed “soon” but could not give a timeframe.

Corruption charges

Samsung Electronics is regarded as the jewel in the crown of the Samsung Group conglomerate, which is made up of 60 interlinked companies, and is one of South Korea’s massive family-run businesses known as chaebols.

In August, the group’s heir apparent Lee Jae-yong was convicted of bribery and corruption and sentenced to five years in jail.

Mr Lee is accused of giving donations worth 41bn won ($36m; £29m) to non-profit foundations operated by Choi Soon-sil, a friend of South Korea’s former President Park Geun-hye, in return for political favours.

He was back in court on Thursday, appealing his jail term.

Source: BBC

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Samsung Odyssey virtual reality headset announced for Windows https://citifmonline.com/2017/10/samsung-odyssey-virtual-reality-headset-announced-for-windows-2/ Wed, 04 Oct 2017 17:16:44 +0000 http://citifmonline.com/?p=359049 Samsung has unveiled a virtual reality rig designed for use with Windows PCs. HMD Odyssey joins previously announced VR headsets and hand controllers from Dell, HP, Lenovo, Acer and Asus to form the launch hardware line-up for Microsoft’s new Mixed Reality platform. Unlike earlier PC-based VR kit, the new products are able to track their […]

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Samsung has unveiled a virtual reality rig designed for use with Windows PCs.

HMD Odyssey joins previously announced VR headsets and hand controllers from Dell, HP, Lenovo, Acer and Asus to form the launch hardware line-up for Microsoft’s new Mixed Reality platform.

Unlike earlier PC-based VR kit, the new products are able to track their wearers’ movements in a room without requiring additional external sensors.

But experts have questioned whether the market will support so many brands.

Until now, HTC’s Vive and Facebook’s Oculus Rift have had most of the market in high-end PC-based VR headsets to themselves.

But the two firms had only sold a combined total of just over one million headsets by the end of June, according to SuperData Research.

VRImage copyrightMICROSOFT
Image captionMicrosoft says there are 20,000 available Windows software titles with which to experience mixed reality

Both have cut their prices in recent months in an attempt to stimulate demand.

By contrast, Samsung’s more basic Gear VR – which works with some of its smartphones – had sold more than eight million units, according to the same market research.

“VR is still a very youthful medium,” commented Kevin Joyce, editor-in-chief of the news site VR Focus.

“There’s a number of significant barriers to entry – price, lack of variety in software collections etc – all of which are slowly being addressed.

“But in the short term, I do think we’ll see some of the hardware manufacturers in the current race fall before the final hurdle [since some] will want a return on their investment sooner rather than later.”

Halo VR

Microsoft hosted an event in San Francisco to mark the release of a new version of Windows 10 on 17 October that supports new virtual and augmented reality capabilities.

Alex KipmanImage copyrightMICROSOFT
Image captionAt the launch, Microsoft’s Alex Kipman said mixed reality represents a “new era of computing”

The firm uses the term “mixed reality” to refer to both VR experiences, which are based solely in computer-generated worlds, as well as AR, which mixes graphics and real-world views together.

Samsung’s headset was pitched as a premium way to experience VR, thanks to it featuring higher-resolution OLED (organic light-emitting diode) displays than the other new kit. It also has a slightly wider field-of-view and integrated headphones.

However, its $499 (£425) price makes it more expensive and it will go on sale a month later in November.

AltspaceVRImage copyrightMICROSOFT
Image captionAltspaceVR provides Microsoft with a social network for its virtual reality technology

Other announcements included:

  • Microsoft has acquired AltSpaceVR, a virtual reality-based social media platform. It had announced its closure earlier in the year only to reverse the decision without explanation later
  • the release of Halo Recruit, a “brief” VR experience set in the firm’s sci-fi video game world. It will be given away free later this month

Microsoft is also developing an AR-based headset that does not require a separate PC called the HoloLens. But a prototype sold to developers costs £2,719 and there was no update as to when it will get a mass-market release.

One industry-watcher suggested that consumers tempted to invest in Microsoft and its partners’ VR tech should wait a while before making a purchase.

“The launch of all of those head mounted displays will create a lot of competition and possibly price aggressiveness in this space in the coming holiday season,” Annette Zimmermann from the consultancy Gartner told the BBC.

“Until now all PC vendors were linking their high-end devices with Oculus or HTC headsets.

“With their own headsets available, it is likely that they will focus on promoting bundles with their own devices.”

Source: BBC

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Samsung grows young girl’s capacity in ICT skills in Ghana https://citifmonline.com/2017/10/samsung-grows-young-girls-capacity-in-ict-skills-in-ghana/ Mon, 02 Oct 2017 09:02:42 +0000 http://citifmonline.com/?p=358662 40 employees from Samsung’s headquarters in South Korea gathered in Accra last week to take part in the company’s annual global Employee Volunteer Programme (EVP). The initiative, which is aimed at empowering young girls with future-focused ICT skills, has been carried out in partnership with Better World. Each year, Samsung employees dedicate their time and […]

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40 employees from Samsung’s headquarters in South Korea gathered in Accra last week to take part in the company’s annual global Employee Volunteer Programme (EVP).

The initiative, which is aimed at empowering young girls with future-focused ICT skills, has been carried out in partnership with Better World.

Each year, Samsung employees dedicate their time and skills to an initiative which they feel will add value to one of the regions in which the company operates. As part of this year’s programme, staff members used their skills and expertise to train young Ghanaian girls and handed over a new Samsung-funded ultra-modern ICT Centre at the Accra Bishop Girls Junior High School.

samsung-girls-in-ict-1

“It’s important for our people to be actively involved with the education initiatives we are rolling out across Africa. Not only are they able to impart considerable value through their time and expertise but it also provides them with the opportunity to witness first-hand the difference their combined involvement in Samsung is making to the lives of others,” says Mr Eungjin Nahm, Samsung Electronics West Africa – Ghana.

Both a Primary and Junior High School, Accra Bishop Girls’ School, has a total of 760 students. Though ICT currently forms part of the school’s curriculum, it has historically been forced to rely on textbooks for its education purposes as a result of its lack of ICT facilities.

Through the new facility, learners will now have the opportunity to acquire and enhance technological skills vital to the new digital economy. This is particularly important when it comes to future generations of young women. We know based on the World Economic Forum (WEF) Global Gender Gap Report that there is still a 47% global gender gap when it comes to STEM graduates at tertiary level.

“Samsung is passionate about helping to further the development of STEM and ICT skills among women and we hope that through this initiative and others like it, we will be able to make a positive difference in the lives of many young African women,” says Tracy Kyei, Marketing Executive, Samsung Electronics West Africa – Ghana
The new Centre is an extension of the electronics provider’s involvement in the education sector in Ghana.

samsung-girls-in-ict-2

Just last year Samsung opened a Smart School in the Bole and Eguafu-Edina districts to provide teachers with basic computer literacy skills. It also launched the Female Professionals in Electronics project in Ghana, in partnership with GIZ and the Korea International Cooperation Agency (KOICA).

Samsung has been very active in the education space in Africa in general through the roll out of Smart Schools, Solar-Powered Internet Schools, Technical Programmes and Engineering Academies.

“The staff of Samsung are very excited to be involved in this year’s EVP in Ghana. We are passionate about advancing ICT skills among young women in Africa and view this as another important touch point through which we hopefully can make a far-reaching impact,” Concludes Ms Judith Kelechi, Corporate Citizenship Manager, Samsung Electronics West Africa.

Source: Samsung Ghana

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Samsung enters autonomous driving race with new business, funding https://citifmonline.com/2017/09/samsung-enters-autonomous-driving-race-with-new-business-funding/ Fri, 15 Sep 2017 10:40:57 +0000 http://citifmonline.com/?p=353730 South Korea’s Samsung Electronics Co Ltd (005930.KS) plans to become a major player in autonomous driving, building on its recent $8 billion acquisition of audio and auto parts supplier Harman and its pole position in mobile communications markets. Samsung announced on Thursday at the Frankfurt Motor Show that it has set up a strategic business […]

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South Korea’s Samsung Electronics Co Ltd (005930.KS) plans to become a major player in autonomous driving, building on its recent $8 billion acquisition of audio and auto parts supplier Harman and its pole position in mobile communications markets.

Samsung announced on Thursday at the Frankfurt Motor Show that it has set up a strategic business unit for autonomous and advanced driver assistance services (ADAS), together with a $300 million fund to invest in automotive start-ups and technology.

“It’s time to communicate our intent to enter the autonomous driving market,” Young Sohn, the company’s president and chief strategy officer, told Reuters. “Samsung has been incubating this business for quite a while.”

The world’s biggest maker of semiconductors by revenue, Samsung is a consumer electronics giant that leads markets in products as varied as phones and TVs, displays and memory chips. These assets, and the inside track with car makers provided by its Harman unit, give it confidence to enter an increasingly crowded auto market with other top tech names, Sohn said.

Samsung’s two biggest rivals have also moved into the connected car market over the past year, at greater cost: Intel Corp (INTC.O) paid $15.3 billion last month to acquire Mobileye, the current market leader in collision-detection ADAS software, while Qualcomm Inc (QCOM.O) is seeking regulatory approval for its $47 billion deal to buy NXP Semiconductors NV (NXPI.O), the world’s biggest maker of automotive-grade chips.

Harman, best known for its consumer audio speakers, derives 65 percent of sales from its automotive business, supplying navigation services, on-board entertainment systems and vehicle networks that put it at the intersection of connected cars and mobile networks.

Auto industry veteran John Absmeier, who before joining Samsung in 2015 ran a pioneering autonomous driving programme at U.S. tier 1 auto supplier Delphi Automotive Plc (DLPH.N), has been named senior vice president of the Samsung automotive business unit. Absmeier will retain his current job as head of smart machines for the Samsung Strategy and Innovation Center in Silicon Valley.

Sohn said the Autonomous/ADAS business unit will absorb hundreds of engineers Samsung already has working on autonomous driving technologies. The new unit will sit within the connected car business of Harman, an independent subsidiary of Samsung, a spokesman added.

In recent months, Samsung has secured licenses for autonomous driving pilot projects in South Korea and California.

PIECING TOGETHER A STRATEGY

Strategy Analytics automotive analyst Roger Lanctot said Samsung is ideally placed to pull together consumer electronics, mobile devices and auto technology, but that entering the market will take time. Samsung has indicated that a 2020 time horizon is reasonable for its strategy to come together, he said.

“In the meantime, though, I’d expect to see a variety of clever implementations and pilots to test the waters.”

While there is no coherent industry vision yet for what a connected car exactly means, creating openings for them, Harman and Samsung must move quickly in a market where vehicle design cycles can take anywhere from three to five years, he noted.

Over the next two to three years, the new Samsung Automotive Innovation Fund will invest in a range of connected car areas including sensors, machine vision, artificial intelligence, high-performance computing, cloud services, mobile connectivity, automotive-grade safety and security, the company said.

The first investment will be 75 million euros ($89 million)in TTTech, a Vienna-based firm known for safe, highly reliable network computing systems used in the Boeing Dreamliner, Audi cars including the new Audi A8, and NASA spacecraft, it said.

Previous Samsung auto-related investments include AImotive and Renovo for automated driving, Quanergy, for 3D cameras known as LiDAR, and Graphcore, a maker of high-performance artificial intelligence computing.

Sohn sought to distinguish his strategy from other consumer tech companies including Alphabet Inc’s (GOOGL.O) Waymo by underlining that Samsung had no plans to make cars itself but instead would work as a tech ally for car makers.

Samsung’s new autos unit will focus on developing core technologies, while Harman will market and integrate these for auto makers, he said. Sohn is also chairman of Harman.

Longer term, as driverless cars emerge and vehicle interiors become more like living rooms to keep passengers productive or entertained, Samsung could supply see-through computer displays that can also function as windows and Harman could see demand rise for infotainment systems and noise management technology.

Source: Reuters

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Samsung heir Lee Jae-yong jailed for corruption https://citifmonline.com/2017/08/samsung-heir-lee-jae-yong-jailed-for-corruption/ Fri, 25 Aug 2017 14:53:47 +0000 http://citifmonline.com/?p=348063 A court in South Korea has sentenced Samsung’s billionaire heir-apparent Lee Jae-yong to five years in prison for corruption. Lee was convicted of bribery in a scandal that also saw the impeachment of South Korea’s former president. The case has gripped the public amid growing anger against South Korea’s biggest companies, known as chaebols. Lee, […]

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A court in South Korea has sentenced Samsung’s billionaire heir-apparent Lee Jae-yong to five years in prison for corruption.

Lee was convicted of bribery in a scandal that also saw the impeachment of South Korea’s former president.

The case has gripped the public amid growing anger against South Korea’s biggest companies, known as chaebols.

Lee, who denied all charges, had faced a jail sentence of up to 12 years.

Also known as Jay Y Lee, the de facto head of the world’s largest smartphone maker had been detained since February on a string of corruption charges.

These included bribery, embezzlement and hiding assets overseas.

What did he do?

The 49-year-old is accused of giving donations worth 41bn won ($36m; £29m) to non-profit foundations operated by Choi Soon-sil, a friend of South Korea’s former President Park Geun-hye, in return for political favours.

Prosecutors said the donations were made to Ms Park’s confidante to win government support for a big restructuring of Samsung that would strengthen Lee’s control over Samsung Electronics.

But Lee’s defence team said that the payments were signed off without his knowledge.

Lee has previously admitted that the firm also gave a horse and money to help the equestrian career of Choi’s daughter, Chung Yoo-ra, but denied seeking favours.

His lawyer said on Friday they would appeal against the court’s decision.

“We are confident the ruling will be overturned,” Song Wu-cheol said.

Who else is involved?

The case contributed to President Park’s eventual impeachment and she now faces trial for corruption herself, something she denies.

Her friend Choi has already been jailed for three years after being found guilty of using her position of influence to solicit favours for her daughter.

On Friday, two other Samsung executives, Choi Gee-sung and Chang Choong-ki, were also convicted in the same trial as Lee and sentenced to four years in prison. Former Samsung Electronics president Park Sang-jin and executive vice-president Hwang Sung-soo were handed suspended sentences.

Will Lee serve time in jail?

Analysis – by the BBC’s Yogita Limaye in Seoul

This isn’t the first time a top executive of a big conglomerate has been convicted for corruption in South Korea.

But in the past, they’ve either been given suspended sentences or have been pardoned by the president.

The new president, Moon Jae-in, has already said there will be no more presidential pardons.

So if Lee’s sentence is upheld by higher courts and he ends up serving his complete sentence in jail or a significant part of it, that will be a departure from what we’ve seen in South Korea in the past.

And the new government says that will be a strong message to chaebols that they need to clean up the way they do business.

What does it mean for Samsung?

The conviction represents a huge blow to South Korea’s biggest and most well-known business empire. Since the verdict, Samsung shares fell by 1%.

It also raises questions about the future leadership of the family-run conglomerate. Lee has been standing in as chairman since his father,

Lee Kun-hee, suffered a heart attack in 2014.

Lee has two sisters, who are in management roles in different parts of the Samsung group, but it is unclear whether they could be brought in to higher positions.

Since Lee’s arrest six months ago, the group’s business operations have continued largely unaffected.

Samsung Electronics posted a record profit of 11tn won for the latest quarter and the firm has released its new flagship Galaxy S8 smartphone, closing the book on the disastrous recall of the exploding Galaxy Note 7.

The Samsung Group, made up of 60 interlinked companies, is crucial to the South Korean economy, with sales equivalent to about a fifth of the national GDP.

The chaebol includes a shipbuilding division, a construction company, and pharmaceuticals and advertising arms.

What is a chaebol?

The word chaebol is a combination of the Korean words for clan and wealth
It is the name given to South Korea’s massive family-run business empires that wield huge influence in the country

They normally own numerous international enterprises

Other examples include LG, Lotte and Hyundai

Source: BBC

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Samsung heir Lee Jae-yong faces verdict in his bribery trial https://citifmonline.com/2017/08/samsung-heir-lee-jae-yong-faces-verdict-in-his-bribery-trial/ Fri, 25 Aug 2017 06:20:58 +0000 http://citifmonline.com/?p=347881 A court in Seoul is set to decide whether the billionaire heir-apparent of the Samsung conglomerate will be jailed for corruption. Lee Jae-yong is facing accusations of bribery linked to a scandal that triggered the impeachment of South Korea’s former president. Prosecutors are asking for a 12-year jail sentence. He denies all charges. The case […]

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A court in Seoul is set to decide whether the billionaire heir-apparent of the Samsung conglomerate will be jailed for corruption.

Lee Jae-yong is facing accusations of bribery linked to a scandal that triggered the impeachment of South Korea’s former president.

Prosecutors are asking for a 12-year jail sentence. He denies all charges.

The case has gripped the public amid growing anger against South Korea’s biggest companies, known as chaebols.

Why is he on trial?

Mr Lee, also known as Jay Y Lee, has been detained since February on a string of corruption charges including bribery, embezzlement and hiding assets overseas.

He stands accused of giving donations worth 41bn won ($36m; £29m) to non-profit foundations operated by Choi Soon-sil, a friend of South Korea’s former President Park Geun-hye, in return for political favours.

The 49-year-old had been standing in as chairman for his ill father, Lee Kun-hee, who suffered a heart attack and slipped into a coma in 2014.

Prosecutors alleged that the donations were made to Ms Park’s confidante to win government support for a big restructuring of Samsung that would strengthen Mr Lee’s control over Samsung Electronics.

Lee Jae-yong

But the defence said he was not involved in making day-to-day business decisions at South Korea’s biggest conglomerate and that the payments were signed off without his knowledge.

The charges carry a maximum sentence of 20 years in prison, but he would almost certainly appeal against any conviction.

Park Geun-hye

Yet he may yet escape a jail term even if he is convicted. Many top executives of South Korea’s biggest companies, including his father, have been convicted of crimes but were pardoned.

Who else is involved?

Mr Lee is the most high-profile figure arrested in the investigation and was charged along with four other Samsung executives.

They include former Samsung Group vice-chairman Choi Gee-sung, former president Chang Choong-ki, former Samsung Electronics president Park Sang-jin and executive vice-president Hwang Sung-soo.

Three of them resigned after the case emerged but have denied all the charges including bribery and hiding assets.

They stand accused of bribing Park to pave the way for the merger of two publicly owned Samsung companies, despite opposition from shareholders.

What does it mean for Samsung?

Samsung Galaxy S8Image copyrightGETTY IMAGES
Image captionSamsung released its latest iPhone rival, the Galaxy S8, this week

The Samsung Group, made up of 60 interlinked companies, is crucial to the South Korean economy, with sales equivalent to about a fifth of the national GDP.

The chaebol includes a shipbuilding division, construction company, pharmaceuticals and advertising arms. Other chaebols include LG, Lotte and Hyundai.

Mr Lee became a Samsung president in 2009 and in 2013, he was made vice-chairman of Samsung Electronics, which makes smartphones, televisions, cameras and hard drives.

But since Mr Lee’s father suffered a heart attack in 2014, he has been considered the de facto boss of the entire Samsung group.

Regardless of the outcome, the case is likely to damage Mr Lee’s reputation as one of the country’s most powerful business leaders.

However, since his arrest six months ago some of Samsung’s business operations seem to have continued largely unaffected.

Samsung Electronics posted a record profit of 11tn won for its most recent quarter and the firm has released its new flagship Galaxy S8 smartphone, closing the book on the disastrous recall of the exploding Galaxy Note 7.

Source: BBC

The post Samsung heir Lee Jae-yong faces verdict in his bribery trial appeared first on Citi 97.3 FM - Relevant Radio. Always.

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