SEOUL—Samsung Electronics vice chairman Jay Y. Lee is visiting North America in his first high-profile trip after serving jail time for bribery, with a decision imminent on the company’s planned $17 billion U.S. chip plant. Lee left Seoul on Sunday and his trip to Canada and the United States is expected to coincide with a…
Samsung’s Lee Visits US Ahead of Likely $17 Billion Chip Plant Decision: Media
November 15, 2021
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Japan Looking to Beef Up Chip, Storage Battery Sectors as Part of Stimulus Plan
November 15, 2021
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TOKYO—Japan’s economic stimulus package will feature a plan to urgently strengthen the chip industry while the government will also formulate a strategy for storage batteries, trade minister Koichi Hagiuda said on Monday. Hagiuda unveiled the plan days before Prime Minister Fumio Kishida is set to announce a stimulus package worth “several tens of trillion yen”…
US, EU Must Avoid Subsidy Race Amid Chip Shortage: EU’s Vestager
November 12, 2021
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The United States and the European Union must avoid a subsidy race as they rush to support semiconductor production amid a global chip shortage, EU Competition Commissioner Margrethe Vestager said on Friday. “We really need to avoid a subsidy race, a race that leaves everyone poorer off,” Vestager said in a speech at the University…
Daimler Powers Through Chip Crunch, 2021 Targets on Track
LONDON—Daimler AG reported a higher quarterly profit on Friday despite a 30 percent drop in Mercedes-Benz unit sales due to a global semiconductor chip shortage, as it focused on more profitable luxury cars and cut costs, and said it should meet its 2021 profit targets. The German premium carmaker said it expects chip supplies to…
Intel Teams With Google Cloud to Develop New Class of Data Center Chip
Intel Corp. and Alphabet Inc.’s Google Cloud on Wednesday said they have worked together to create a new category of chip that Intel hopes will become a major seller in the booming cloud computing market. The new chip, which is called Mount Evans and will be sold to others beyond Google, reflects the way that…
GM Outlook Doesn’t Impress, Sees Chip Shortage Continuing; Shares Drop
October 27, 2021
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DETROIT—General Motors Co. said on Wednesday its quarterly profit was hit by the global semiconductor shortage that it sees continuing until late 2022, and offered a full-year profit forecast that disappointed Wall Street, sending shares down more than 3 percent in premarket trading. The Detroit automaker’s quarterly profit and revenue fell due to a drop…
Google Announces Pixel 6 Phone With New Chip, Subscription Service
October 21, 2021
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Alphabet Inc.’s Google on Tuesday announced the newest iteration of its smartphone—Pixel 6 and Pixel 6 Pro—which will be powered by the company’s first chip called Tensor. The tech giant also launched Pixel Pass, a subscription service starting at $45 per month for U.S. customers that will include the Pixel 6 and access to the…
Chip Shortages, Hurricane Ida Depress US Manufacturing Production
October 18, 2021
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WASHINGTON—Production at U.S. factories fell by the most in seven months in September as an ongoing global shortage of semiconductors depressed motor vehicle output, further evidence that supply constraints were hampering economic growth. Manufacturing production last month was also depressed by the lingering effects of Hurricane Ida, which also severely disrupted output at mines. The…
Audi CEO Sees Chip Shortage as ‘Perfect Storm’ but Will Get Through It
FRANKFURT—Premium car brand Audi, Volkswagen’s biggest profit contributor, has to troubleshoot on a day-to-day basis to tackle an ongoing shortage of auto chips, its chief executive said. “We had a very strong first half in 2021. We do expect a much weaker second half. We really have trouble,” Markus Duesmann told Reuters ahead of the…
US Auto Sales Slump, Stalled by Car Computer Chip Shortage
October 2, 2021
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DETROIT—In a normal month before the pandemic, Con Paulos’ Chevy dealership in Jerome, Idaho, sold around 40 new vehicles. In September, it was only six. Now he’s got nothing new in stock, and every car, truck or SUV on order has been sold. Last month, what happened at his dealership about 115 miles (185 kilometers)…
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