Tech leaders in Las Vegas for CES 2025, concerned about Trump's tariffs
International tech innovators arrived in Las Vegas, to represent and try out the latest gadgets and innovations ahead of CES 2025.
Samsung Electronics, the global leader in memory chips, smartphones, and televisions, has released its fourth-quarter operating profit estimate, revealing a significant shortfall compared to analyst expectations. The South Korean tech giant reported an estimated operating profit of 6.5 trillion won.
Samsung's fourth quater results, although a remarkable 131% increase from the same period last year, missed the consensus estimate of 7.7 trillion won, as projected by LSEG SmartEstimate.
The disappointing earnings were attributed to a number of factors, including Samsung’s struggles in the high-end chip market, where it faced fierce competition from rival SK Hynix. The company has been notably lagging behind SK Hynix in supplying premium chips to Nvidia, a key player in the semiconductor industry. Nvidia's demand for advanced chips, particularly those used in data centers and artificial intelligence (AI) applications, has surged in recent months, but Samsung has not kept pace with its competitors.
Samsung's business of designing and contract manufacturing logic chips also experienced a downturn during the quarter. The slowdown in global smartphone demand, combined with lower factory utilization rates and rising research and development costs, contributed to the overall decline in earnings from this segment. These challenges are particularly evident in the mobile industry, where demand has remained sluggish due to economic uncertainties and changing consumer preferences.
While Samsung’s estimated Q4 profit is still substantially higher than last year’s figures, it marks a significant decline of 29% from the previous quarter. This drop in earnings highlights the ongoing challenges faced by Samsung’s semiconductor business, which has long been a major driver of the company's overall profitability. The slowdown in chip demand, coupled with intense competition from other memory chipmakers, has put pressure on Samsung's market position in recent months.
Despite the disappointing earnings report, Samsung’s shares initially dropped by 1% in early trading following the announcement. However, they later rebounded and rose more than 1%, suggesting that investors remain cautiously optimistic about the company's future prospects, particularly in the long term.
Samsung's ability to regain momentum in its semiconductor business will be crucial to its overall performance in 2025. As competition in the chip industry intensifies, Samsung will need to adapt to changing market dynamics and invest in new technologies to stay competitive. The company’s ability to meet the growing demand for high-end chips, especially those used in AI and data centers, will play a pivotal role in shaping its financial outlook in the coming months.
Highland Park resident Sabrina gives a firsthand account of fleeing the devastating Southern California wildfires, as fierce 80 mph winds drive the Eaton Fire toward residential areas. In an exclusive interview, Sabrina details her experience joining the other 130,000 displaced citizens.
Reports of a two-month halt in Azerbaijani gas supplies to Serbia are false. Despite a technical issue at Shah Deniz Alpha, Shah Deniz Bravo ensures steady exports, with supplies set to resume soon. BP confirms no damage or environmental impact.
A Cessna CJ1+ aircraft (PR-GFS) crashed while landing at Gastão Madeira State Airport (UBT) in Ubatuba, Brazil, on 9 January 2025, amidst adverse weather. The crash, which claimed the pilot’s life and injured seven others, has raised concerns over private aviation safety in Brazil.
Azerbaijan's Foreign Ministry is working with Eritrean authorities to secure the release of 18 Azerbaijani citizens detained after their vessels entered Eritrean waters on November 7, 2024, due to severe weather. The crew faces charges of unauthorized entry.
Prime Minister Keir Starmer has affirmed that Britain will establish its own approach to artificial intelligence regulation, emphasising the importance of testing and understanding AI before implementing a proportionate and grounded regulatory framework.
Disney, Fox, and Warner Bros Discovery have cancelled Venu Sports, their joint sports streaming venture, following legal challenges and accusations of anti-competitive behaviour.
Electric vehicle manufacturer BYD is under investigation in Brazil after hundreds of Chinese workers were brought into the country on irregular visas to work on a factory construction in Bahia, with many found in "slavery-like conditions," according to labor authorities, Reuters reports.
Philips has sold its chipmaking subsidiary, Xiver, to a consortium led by Orange Mills Ventures, marking another step in the company’s shift away from semiconductor operations, Dutch newspaper De Telegraaf reported.
A coalition of self-driving car companies is urging the U.S. government to accelerate efforts to deploy autonomous vehicles, citing regulatory delays and growing international competition.
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