Hyundai Motor Group signed a memorandum of understanding (MOU) on cooperation in future mobility with Red Sea Global (RSG), a leading developer of the Red Sea and western coastal areas, in Riyadh, the capital of Saudi Arabia, on March 24 (local time).The Red Sea coastal development project is one of
Taiwan’s stock market has reached an all-time high, propelled by the surge in Taiwanese technology stocks, including TSMC, amid the global semiconductor boom. The narrowing gap in market capitalization with the domestic stock market has narrowed to approximately US$4 billion.According to the Taiwan
Samsung Electronics and LG Electronics are set to reduce their LCD TV panel procurement ratio from Chinese companies starting next year. This move is interpreted as a strategy to stabilize supply chain management by decreasing reliance on the unstable Chinese panel market and to counteract Chinese e
India, a formidable force in the Information Technology (IT) sector and the world’s most populous country, is making rapid strides to establish itself as a “Global Semiconductor Hub,” attracting the attention of both American and Taiwanese semiconductor companies. Similar to President Joe Biden’s pu
Smartphone companies from Japan and China, which once claimed they would surpass Samsung Electronics, are sequentially withdrawing from the business. This is due to receiving evaluations that their quality and price competitiveness are subpar. Samsung and Apple outperformed them in the high-end mark
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed.Maintain BUY, trim target price to KRW350,000 We trim our target price by 2.8% to KRW350,000 from KRW360,000 on LGI to reflect downward revisions to 2023E earnings, but we maintain BUY given the stock’s upside p
LG Innotek announced on Jan. 25 that its sales and operating profit in the fourth quarter (Q4) of 2022 are 6.5477 trillion won and 170 billion won, respectively. Those increased 14.4 percent and dropped 60.4 percent year on year, respectively.That day, Samsung Electro-Mechanics announced 1.9684 tril
Samsung Electronics kept its top spot in the global smartphone market in 2022 by accounting for 22 percent of worldwide shipments. Apple recorded its largest quarterly market share of 25 percent in the fourth quarter of 2022, but could not overturn the final rankings. The Korean smartphone giant mai
The author is an analyst of Shinhan Securities. He can be reached at phw@shinhan.com. -- Ed. 4Q22 preview: Earnings shockLG Innotek is expected to have recorded operating profit of KRW184.1bn (-57% YoY, -59% QoQ) for 4Q22, falling short of our previous estimate (KRW442.6bn) which took into account m
LG Innotek is on a fast growth track. The company's annual sales are expected to top 20 trillion won in 2022 after exceeding 10 trillion won for the first time in 2021.LG Innotek’s sales estimate for this year is 20,051.6 billion won, FnGuide said on Dec. 22. The figure represents an increase of
The author is an analyst of Shinhan Securities Co. He can be reached at hyungwou@shinhan.com. -- Ed. 4Q preview: OP to fall short due to unfavorable forex conditionsWe now expect LG Innotek to post operating profit of KRW442.6bn for 4Q22, falling short of our previous estimate of KRW596.3bn. We beli
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Uncertainty over production disruptions at Foxconn should dissipate in DecemberOver the past three days, LGI stock fell 9.5%, or 31.3% from its 2022 peak, on concerns over production disruptions at Foxconn’s Zh
The authors are analysts of KB Securities. They can be reached at jeff.kim@kbfg.com and cm.lee@kbfg.com, respectively. -- Ed. iPhone-related Korean shares retreat on Sep 26— On Sep 26, shares of Korean component manufacturers in the iPhone value chain retreated. Specifically, LG Innotek and BH shed
Major Korean companies are ramping up their investments in Indonesia, which they regard as a base for advancing into Southeast Asia. Korean companies' investments are made in diverse sectors, including electric vehicles, batteries, petrochemicals, and biotechnology. The Indonesian government is
Shutdowns of Chinese cities are continuing and this is seriously affecting South Korean IT companies that supply their components to Apple, HP, Dell, etc.According to market research firms, companies that have manufacturing facilities in Shanghai and Kunshan failed to produce anything for at least h
Foxconn, Apple’s largest supplier, plans to expand its plant in Chennai, India. As iPhone production in China has been halted due to a recent lockdown of Shenzhen, it is aiming to ramp up production in India.Apple and Foxconn recently received permission from the Tamil Nadu state government for the
Global automakers’ competition is heating up in the electric vehicle markets of the ASEAN and India.Mitsubishi Motors Thailand announced on March 21 that it would sell only pure electric vehicles and plug-in hybrid cars starting from 2024. Mitsubishi is the fourth-largest seller in the Thai car mark
Shenzhen implemented a lockdown on March 13 and this is predicted to affect the production and delivery of the iPhone SE3, which was unveiled on March 9, as Foxconn’s biggest plant in China is located in the city.Foxconn is yet to announce when to resume its production. The lockdown is scheduled to
A Korean media outlet specializing in the electronic parts industry reported on Feb. 22 that Apple is developing a self-driving chip package for its rumored Apple Car with an outsourced semiconductor assembly and test (OSAT) service provider in Korea.According to THE ELEC, the project started last y
SES AI Corp. (SES), a global leader in the development and production of lithium-metal (Li-metal) rechargeable batteries for electric vehicles (EVs) and other applications, started trading on the New York Stock Exchange (NYSE) on Feb. 4 (U.S. local time)Its shares dropped nearly 8% to close at US$7.