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Samsung's Q4 Earnings: Weakness In Smartphones Could Be Tempered By Semiconductor Growth
- Samsung is expected to publish its Q4 2014 earnings on Thursday.
- The company has provided preliminary earnings guidance numbers, indicating that consolidated sales could dip by roughly 12% year-over-year.
- Trefis has a $1,170 price estimate for Samsung, which is slightly below the current market price.
- Processors are not a top purchase driver among smartphone buyers. Using or not Using Qualcomm processors is of little influence in Samsung’s phone sales.
- The Exynos 7 Octa processor is good enough for the upcoming Samsung Galaxy 6.
- Xiaomi’s legal trouble with Ericsson might be good for Samsung’s global sales.
- Samsung is rumored to become the main supplier of application processors for Apple's new iPhone 7, replacing TMSC.
- Last week sources claimed Samsung was replacing Qualcomm's Snapdragon chip inside the Galaxy S5 for the Exynos which is made in-house.
- As Samsung grows its semiconductor business, I expect it to seek more market share in DRAM and NAND, hurting Micron.
- Micron remains a hold.
- BlackBerry's claim that it has not engaged in buyout talks with Samsung is strengthened by the release of the latter’s first Tizen smartphone in India.
- Samsung still sees potential in Tizen OS phones.
- The Samsung Z1 Tizen phone is cheaper than Google’s Android One handsets.
- Android apps can run on the Samsung Z1 through OpenMobile’s Application Control Layer technology.
Why Acquiring BlackBerry Would Make Sense For Samsung
- By acquiring BlackBerry, Samsung could find new avenues for growth, gaining credibility and deeper relationships with enterprise customers and users in highly regulated verticals.
- BlackBerry could help to give Samsung a leg up over Apple and Android devices, which still trails behind BlackBerry in terms of security.
- BlackBerry’s basic patents, which are likely to cover some foundation mobile communication technologies, could prove useful as a bargaining chip for Samsung in the event of litigation with rival manufacturers.
- Samsung will benefit a lot from owning BlackBerry.
- Samsung can use BlacKBerry's QNX and Elliptic Curve Cryptography assets to build the most secure Machine-to-Machine communication solutions.
- Samsung can outrun Google in the connected car segment if Samsung owns QNX. QNX is the leading OS in connected cars.
- Samsung warned that operating profit for December 2014 quarter-end was off 37%.
- Smartphone sales may still be in free fall amid competition from Apple, Xiaomi and Lenovo.
- Samsung is attempting to diversity its revenue stream, but investors should still avoid the stock.
Why Samsung Is Betting Big On The Internet Of Things
- Samsung intends to play a key role in the IoT market, with the intention to equip 90% of all its devices with IoT capabilities by 2017.
- According to research firm IDC, the global market for Internet of things-capable devices and services could cross $7 trillion by the year 2020.
- Trefis has a $1170 price estimate for Samsung, which is slightly below the current market price.
Samsung Dials Into Vietnam, Repositions Itself For Investors
- Samsung has decided to take on increasingly low-cost products by expanding its operations by $3 billion in Vietnam.
- Samsung enjoys a favorable regulatory environment in Vietnam with the government exempting them from corporate taxes for 4+ years.
- Although Samsung's results have been slightly disappointing, investors might consider the recent dip a buying opportunity.
- Samsung's consistent and increasing dividends could also be attractive for income-oriented investors.
Samsung Could Refocus Growth Strategy As Q3 Earnings Plummet
- Samsung's smartphone business faces its biggest test yet, challenged by the arrival of Apple's large-screen iPhones and increasing competition from budget offerings.
- Semiconductor operations did well, aided by strong DRAM and NAND memory shipments.
- The consumer electronics division was weighed down by seasonally lower sales for appliances and lower pricing for televisions.
Mobile Business Slump Forcing Samsung To Refocus Its Strategy
- Samsung’s pre-earning guidance for Q3 2014 indicated that sales and operating profits are declining due to an underperforming mobile segment.
- The company is losing market share, and is expected to face further declines, as competition in the market for Smartphones intensifies and smaller brands continue to outperform Samsung’s phones.
- Samsung’s chip business seems to be doing well and has reported strong growth in its pre-earnings guidance. In order to capitalize on this, the company has made a $15 billion investment in a new South Korean chip plant.
- Share prices have declined by nearly 20% in the past four months and the company has lost almost $45 billion in capitalization.
- Outlook for the stock seems to be bearish and investment is not recommended primarily because challenges in mobile (the main segment for the business) are going to continue.
With Sales In Freefall, Will Samsung Smartphones Go The Way Of BlackBerry And Nokia?
- Samsung warned that Q3 profit could decline by as much as 60% Y/Y. Its smartphone business is the worst performer.
- Smartphones are being hit on the low end by Chinese competitors and on the high end by Apple.
- Samsung's sharp decline is reminiscent of Nokia and BlackBerry, both of which once held commanding market share.
- If sales continue their freefall over the next several quarters, Samsung's smartphones could go the way of Nokia and BlackBerry.
Samsung's Chip Expansion Antagonistic For Micron? Wall Street, 'The Crowd' At Odds
- Wall Street and certain members of the crowd are at odds over Samsung's intentions for its new $15B chip plant.
- Analysts believe Samsung is gearing up to supply explosive demand in memory, in particular, demand for the 2015 iPhone.
- Certain crowd members believe Samsung could attempt to steal share in semiconductors to offset losses in mobile phones. I am riding with the crowd.
Samsung Warns Of Weak Third Quarter As Rivals Gain Momentum
- Samsung came out with a profit warning for the third quarter after disappointing in Q2.
- Rivals are pinching the company's market share on both the high and the low end.
- Apple's new iPhone is expected to put even more pressure on Samsung's sales.
There are no Transcripts on SSNLF.
Mon, Jan. 26, 2:56 AM
- According to sources in the semiconductor industry, Samsung Electronics (OTC:SSNLF) will be the main supplier of processors powering Apple’s (NASDAQ:AAPL) next handset model, Maeil Business Newspaper reports.
- The newspaper did not say how much the contract is worth, but Samsung will likely supply 75% of the chip production for the iPhone 7.
- Samsung was the company behind the A7 that powered the iPhone 5S, although it was ditched in favor of TSMC (NYSE:TSM) for the iPhone 6 and iPhone 6 Plus.
Thu, Jan. 22, 3:17 AM
- LG Electronics (OTC:LGEAF) says it did not encounter any overheating problems with Qualcomm's (NASDAQ:QCOM) new Snapdragon 810 processor that will be powering its G Flex2 - the curved smartphone that will go on sale later this month.
- The comment came after Bloomberg report yesterday stating that Samsung (OTC:SSNLF) dropped the new Qualcomm processor from its next Galaxy S due to the chip overheating during testing.
- Previously: Samsung drops Qualcomm chip from new Galaxy smartphone (Jan. 21 2015)
Thu, Jan. 22, 1:15 AM
- Citing a "trusted source," BGR has provided a detailed list of specs for Samsung's (OTC:SSNLF) upcoming Galaxy S6. Among the specs: A 5.1" quad HD (2560x1440) display, an 8-core CPU (presumably Samsung Exynos) that relies on Samsung/Globalfoundries' new 14nm manufacturing process, a 20MP rear camera with optical image stabilization, and a 5MP front camera with a large f/1.8 aperture (good for low-light shots).
- Samsung's next-gen flagship is also said to use Corning's (NYSE:GLW) Gorilla Glass 4, which was launched only in November and offers improved durability. With other reports stating the S6 will have glass panels on both its front and back (to go with a metal frame), two Gorilla Glass 4 panels might be used.
- Wireless charging is reportedly supported, along with a rapid charging feature that enables four hours of usage on a 10-minute charge. Dougherty thinks IDT (NASDAQ:IDTI) has a decent chance of being the S6's wireless charging IC supplier, and that a design win could yield $112M-$135M in annual revenue.
- Samsung is believed to be prepping both a standard S6 model, and one with curved edges. The S6 is expected to be revealed on March 2, the first day of this year's Mobile World Congress.
- Following a rough 2014, the Korean tech giant appears hungry to deliver new high-end models that stand out relative to the offerings of share-gaining Chinese OEMs. IDC estimates Samsung had a 23.8% Q4 global smartphone share, down from 32.5% a year earlier.
Wed, Jan. 21, 7:29 PM
- Though both companies have issued statements denying M&A talks, Samsung (OTC:SSNLF) is "actively pursuing a plan to take over or buy a significant stake in BlackBerry (NASDAQ:BBRY)," Canada's Financial Post reports.
- The paper has obtained a document prepped for Samsung by i-bank Evercore that "outlines the case for, and the potential structure of a possible purchase of BlackBerry." Though the doc was created in Q4 2014, a source says Samsung remains interested. “I can tell you Samsung is contemplating a purchase. It’s still being pursued right now. Samsung is still evaluating their options."
- BlackBerry soared a week ago after Reuters reported Samsung had proposed buying the company for a price between $13.35-$15.49/share. Shares quickly gave back most of their gains after BlackBerry denied having talked with Samsung about a buyout offer. Samsung later provided its own denial.
- BlackBerry has jumped in AH trading to $10.65.
Wed, Jan. 21, 3:18 AM
- Dealing a blow to Qualcomm (NASDAQ:QCOM), Samsung Electronics (OTC:SSNLF) says it will not use the company's processors for its next version of the Galaxy S, Bloomberg reports.
- Samsung, the world’s largest smartphone maker, tested a new version of Qualcomm’s Snapdragon chip, known as the 810, but decided not to use it.
- The new Galaxy S is expected to debut in the first half of this year.
Tue, Jan. 20, 1:42 AM
- Samsung Electronics (OTC:SSNLF) is considering a stock split, making shares easier to buy and attracting more retail investors, as sliding profits continue to put pressure on the firm.
- Samsung shares remain well off last year's peak of 1.495M won ($1,380) following a series of quarterly profit declines, but its newly launched $2B share buy-back program and planned dividend increase has helped them recover from multi-year lows.
Fri, Jan. 16, 5:27 PM
- SamMobile (pretty accurate with Samsung scoops) reports Samsung (OTC:SSNLF) is "ditching the swipe-based fingerprint sensor" found on the Galaxy S5 and Note 4 (among other products) in favor of a touch-based sensor similar to Apple's Touch ID.
- Like Samsung's existing sensors, the touch area sensors will be built into home buttons. "You wouldn’t have to swipe your finger on the sensor anymore; instead, you would just place your fingertip on the home key – at any angle – then lift it off, and that’s it."
- Synaptics (NASDAQ:SYNA) supplies the fingerprint sensors for S5/Note 4; the company could get an ASP boost from Samsung's adoption of a touch area sensor. During its FQ1 CC (transcript), Synaptics mentioned it expected to start initial production of a touch area sensor in FQ2 (calendar Q4), and "to see phones in the market in early calendar 2015," customer launch timings permitting.
- Synaptics' FQ2 report arrives on Jan. 29.
- Update: It's possible Synaptics rival Fingerprint Cards (FPC - recently partnered with Atmel) has the S6 design win. In September, FPC said it had won a fingerprint sensor design win for "a home button by a Global Tier 1 OEM customer in a flagship model with a target launch date in Q1 2015."
Wed, Jan. 14, 5:38 PM
- In response to Reuters' report, BlackBerry (NASDAQ:BBRY) says it "has not engaged in discussions with Samsung (OTC:SSNLF) with respect to any possible offer to purchase BlackBerry."
- BBRY -11.2% AH. Shares are still up 15% from yesterday's close.
- Update: The Globe and Mail reports BlackBerry has "shunned a handful of takeover overtures in recent months as its board of directors and largest investor continues to support a restructuring strategy that they expect will deliver greater shareholder value than current acquisition offers."
Wed, Jan. 14, 4:14 PM
- Samsung (OTC:SSNLF) proposed acquiring BlackBerry (BBRY +29.8%) for a price between $13.35-$15.49/share, according to a Reuters source. BlackBerry closed yesterday at $9.71, and has closed today at $12.60. Shares are up another 3.2% AH to $13.02.
- According to documents, Samsung's proposed acquisition range implies an enterprise value of $6B-$7.5B, after factoring $1.25B in convertible debt. Execs from both companies reportedly met last week.
- Reuters states Samsung is interested in BlackBerry's patent portfolio. BlackBerry could also mesh with Samsung's efforts to grow its enterprise presence, strengthen its embedded/IoT offerings, and (though this is easier said than done) lower its Google dependence. The companies announced a BES12-focused enterprise partnership in November.
- Previously: Samsung reportedly approached BlackBerry about acquisition
- Update: BlackBerry denies having talked with Samsung about a buyout offer.
Wed, Jan. 14, 3:50 PM| 140 Comments
Wed, Jan. 14, 2:42 AM
- Samsung Electronics (OTC:SSNLF) has launched the first smartphone that runs its homegrown Tizen operating system, a major step in advancing an alternative to Google's dominant Android platform.
- The newly released Z1 went on sale in India today for 5,700 rupees ($92) each.
- Up until now, Tizen-powered smartphones faced a series of delays, including the postponed release of the Samsung Z, which was scheduled to go on sale in Russia in 2014.
Tue, Jan. 13, 2:20 PM
- Northland Securities reports Samsung (OTC:SSNLF) is purchasing more DRAM equipment, and plans to ramp capacity. The firm thinks Micron (MU -2.3%) is likely to see the most pressure from Samsung's move, since it's a high-cost producer. (source: Notable Calls)
- Micron is adding to the Monday losses it saw on account of SanDisk's Q4 warning. Shares also sold off in July in response to Samsung capacity expansion fears, but later recovered .
- Goldman has been voicing concerns about rising DRAM capex for a while. Micron, for its part, struck a positive tone during last week's FQ1 CC about DRAM supply/pricing, and has long been arguing the industry's consolidation has changed its dynamics.
- Samsung had an estimated 41.7% Q3 DRAM market share. SK Hynix (HKSCF) had 26.5% of the market, and Micron 23.7% (source: Statista).
Thu, Jan. 8, 2:11 AM
- Confirming its first year of annual profit decline since 2011, Samsung Electronics (OTC:SSNLF) announced today that its fourth-quarter profit likely fell 37.4% Y/Y, hurt by falling sales at its smartphone division.
- Earlier this week, Samsung pledged to reinvent itself by focusing on the "Internet of things", and promised that all of its devices would soon be connected to the Internet.
Tue, Jan. 6, 3:24 AM
- Samsung is reinventing itself as a supplier of Internet-connected appliances and wearables as a result of heavy competition and slumping smartphone sales.
- Stating the plans at the Consumer Electronics Show in Las Vegas, Co-Chief Executive Officer Yoon Boo Keun announced that all Samsung Electronics (OTC:SSNLF) products will be Internet-ready within five years.
- Samsung will invest more than $100M in developers this year to accelerate its plans.
Thu, Jan. 1, 2:52 AM
- After failing to launch a Tizen-powered smartphone, Samsung Electronics (OTC:SSNLF) is now attempting to power every one of its Smart TVs in 2015 with its homegrown operating system.
- Together with Intel (NASDAQ:INTC), Samsung has been developing Tizen for years, with an initial focus of bringing the platform to its smartphones as an alternative to Google’s Android operating system.
Dec. 24, 2014, 11:20 AM
- Samsung has decided to close its flagship Experience Store in London, after opening around 10 stores across the U.K. since April and launching more than 20 others across Europe.
- The store had been seen as its main retail base in the country, playing host to a number of product launches in the past year.
- Samsung’s (OTC:SSNLF) electronics arm has faced a difficult year, suffering from falling earnings due to slumping smartphone sales. In response, the group has executed a management shake-up and cut back on its smartphone portfolio.
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