Seeking new growth drivers, Samsung plans $22B spending on new tech

Samsung to invest $22 billion into new growth areas like A.I. and 5G

Innovations powered by AI technology will drive the industry's transformation and the next-generation 5G telecommunications technology will create opportunities in autonomous vehicles, the IoT and robotics, according to the company. Exactly how big are we walking?

Samsung Group said Wednesday that it planned to spend $22 billion to pursue new technology in areas like 5G mobile technology and artificial intelligence.

As it pertains to AI, Samsung is looking to significantly expand its research efforts.

'Dear Ivanka': Celebrities flood First Daughter's Instagram with message over family separations
President Trump signed an executive order in June ending the administration's family separation policy amid widespread criticism. Some parents who have already been deported may never see their children again. "As of now, 57 children have not been reunited".

Want to know more about 5G?

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. Samsung has its tentacles in several different market segments, which has allowed it to weather dips in demand in certain categories, like smartphones.

Considering Samsung has been cautious about commenting on its reentry into the vehicle business, the report said, creating the new team could hint at a strategic shift at the Korean tech giant. Samsung has been beefing up its contract drug making operations to help counter a potential decline in its mainstay electronics businesses.

James Bond Producers Reportedly Eyeing Idris Elba As Next 007
According to reports Idris Elba is reportedly being eyed to take over the roles of James Bond from Daniel Craig. The article claims that Broccoli told Fuqua that "it is time" for a person of color to be cast in the role.

Through such investments, Samsung plans to foster AI, 5G, biotechnology and electronic components as key future growth engines. The numbers being proposed are much higher than the 25,000 the company hired in the recent three years.

Lee was released from jail earlier in 2018 after a year in detention on bribery charges, lifting hopes among some investors that Samsung will hike investments and create jobs.

Today's update comes after the company reported an operating profit of KRW14.87 trillion ($13.3 billion) for its second quarter, down 5% sequentially but up 6% year-on-year.

Jose Mourinho 'not confident' of deadline day signings
Klopp landed Roma goalkeeper Alisson Becker for £66 million and paid £52 million for RB Leipzig midfielder Naby Keita. Crucially, Chelsea have so far staved off interest from Real and Barcelona in Eden Hazard and Willian.

It forms part of a broader strategy under which the Samsung group will invest KRW180 trillion ($160.7 billion) in total over the next three years in capital expenditure and research and development.

Related News:



Most liked

Former Tour champion Jan Ullrich arrested over alleged attack on escort
Lerch said no further details could be given on her condition while police were investigating. In 2013, he admitted to doping, having been served a two-year ban by sporting regulators.

Betts Homers In 9th To Complete Cycle
The Blue Jays tied it later in the inning. "I'm trying to be competitive and have good at-bats", Smoak said of his streak. Boston starter Rick Porcello (14-5) allowed seven runs and six hits in four innings.

Hargreaves Lansdown posts record FY assets on inflows, market gains
Due in part to its higher level of profitability, Hargreaves Lansdown was able to increase total dividends per share by 38%. Despite the decent results, shares in the company were down three per cent in early trading on Tuesday.

People Are Getting To Look Like Their Filters, Says Report
Back in the old days, people would get to a plastic surgeon's office with photos of celebrities showing them specific features. Beyond the puppy dog ears or flower crowns, these filters make subtle but strong changes to one's facial structure.

Formula 1 team to come out of administration
Stroll junior made his debut with Williams previous year and has been supported in F1 by funding secured by his father. The rescue deal by Stroll and other investors secures the future of the Force India Formula One team.

Boris Johnson defended by Rowan Atkinson in burka row
Labour , which has faced continued pressure over its handling of anti-Semitism in the party, fell three points to 35%. But the former Cabinet minister, who is holidaying overseas , has made no response to demands for an apology.

Patriots Add $5M In Incentives To Contract Of Tom Brady
Brady is now set to make $15 million, but will be given a variety of performance-based bonuses to bring him closer to the actual QB market.

The Knicks Reportedly Plan On Waiving Joakim Noah Before The Season
This is all assuming the Knicks are unable to find a trade partner for Noah, who has played just 53 games in two years with NY . Noah was cast out after a practice incident with Jeff Hornacek last January, making a return hard while Hornacek was the coach.

At least four dead in Fredericton shootings
Canadian police say there are "multiple fatalities" in an shooting in the city of Fredericton in New Brunswick. Police are telling residents to avoid the Brookside Drive area as they "investigate an ongoing incident".

Turkey's currency nosedives on economic concerns, United States dispute
He is facing up to 35 years in prison if found guilty of supporting the coup to overthrow President Recep Tayyip Erdogan. Don't heed them", Erdogan said. "If they have the dollar, we have Allah", he said in a speech early today.

Xi Jingping's Pooh Bear Animus Gets 'Christopher Robin' Banned in China
And despite being released around the world, fans of Winnie the Pooh living in China will not be able to enjoy watching the film . Chinese authorities do not provide reasons to Hollywood studios when they reject their movies, the source said.

Discord launches app store with major games, indies and exclusives
Chatting to Variety , Discord's chief marketing officer Eros Resmini says: "We've actually been mulling the idea for a long time". The company announced today that it will be opening up a storefront with a carefully curated selection of titles.

Everton Complete Triple Deal For Bernard, Mina, and Andre Gomes
It is the best league in the world. "I am also determined to do my best for Everton ". Everton signings Yerry Mina and Andre Gomes .

Australia's central bank continues to hold interest rate
The AUD/USD still looks like a good pair to sell on rallies, with the fundamentals remaining bearish for the Aussie currency. This is largely due to reduced demand by investors as the dynamics of the housing market have changed.

Hundreds evacuated by helicopter from flooded campsites in France
Several parts of central and southeast France are on flood alert after a blazing heatwave ended abruptly in storms on Thursday. Jean-Yves Chapelet, mayor of Bagnols, said many Dutch tourists were among the 350 campers evacuated there.