Smartphone sales in South Korea fell 6 percent last year
Samsung Display, a unit of Samsung Electronics, has signed a 4.1 trillion won ($3.14 billion) contract by 2026 in Asan, South Korea, to make advanced organic light-emitting diode (OLED) display panels used in tablets and computers, the trade ministry said on Tuesday. Planned to invest.
Samsung Electronics’ unit Samsung Display will invest 4.1 trillion won ($3.14 billion) in Asan, South Korea by 2026 to make advanced organic light-emitting diode (OLED) display panels used in tablets and computers, the trade ministry said on Tuesday. is planning to do.
The investment is part of a previously announced plan by Samsung Electronics and affiliates to invest 60.1 trillion won over the next 10 years in areas outside the capital Seoul.
Meanwhile, smartphone sales in South Korea fell 6 percent last year compared to a year earlier amid an economic slowdown, industry data showed Monday.
Market analyst firm Counterpoint Research said the world’s leading smartphone maker Samsung Electronics sees its smartphone sales in its home country decline by 2 percent in 2022, while Apple’s iPhone sales fall 0.4 percent from a year earlier. . Any further details on the sales volume.
The base effect of LG Electronics’ exit from the mobile business in 2021 led to a 71 per cent decline in sales of other players compared to last year.
Samsung Electronics’ Galaxy S22 Ultra was the best-selling smartphone model last year, followed by the Galaxy Z Flip 4, Galaxy S22 5G and the iPhone 13.
The combined sales of the top 10 best-selling smartphone models accounted for 46 per cent of total sales last year, down 7 per cent from a year ago.
“Economic uncertainty will dampen demand for budget smartphones this year,” said Shin Kyung-hwan, an analyst at Counterpoint Research. “Apple’s iPhone 14 Pro and iPhone 14 Pro Max will lead the local smartphone market in the first quarter.”
In related news, Samsung India on Tuesday announced that it has partnered with the Ministry of Electronics and Information technology (MeitY) Startup Hub and Foundation for Innovation and Technology Transfer (FITT), IIT Delhi, for the second session of its National Education and Innovation Competition.
Called ‘Samsung Solve for Tomorrow’, the program invites young people aged 16-22 to apply with their innovative ideas around education and learning, environment and sustainability, health and well-being and diversity and inclusion.
The top three teams will get Rs 1.5 crore to execute their ideas, while other participants who make it to the top 30 and top 10 will be rewarded at different stages of the event.
(With inputs from IANS and Reuters)
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