Tokyo is curbing exports of tech materials to South Korea over a wartime spat. Hardest hit may be South Korea's $260 bln handset maker, Samsung Electronics. mak_robyn explains:
South Korea’s Samsung Electronics said on July 5 it expects operating profit in the three months to June to be 6.5 trillion won , a decrease of 56% from a year earlier. The company, which will publish detailed earnings in late July, said the figure includes one-off gains from its display division, but did not elaborate.
Separately, Japan has implemented export restrictions on certain high-tech materials to South Korea. As of July 4, companies exporting fluorinated polyimides, used in smartphone displays, will need official permission for each shipment. Other restricted materials include resists and hydrogen fluoride, used to make semiconductors.
South Korea’s finance minister said on July 4 that “corresponding measures against Japan cannot be ruled out”, according to Reuters. The presidential office in Seoul also said in a statement that it plans to actively seek diplomatic countermeasures, including complaining to the World Trade Organization against the"retaliatory" export curbs.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Samsung in hot water over splashy Australian phone adsThe company faces a lawsuit filed by Australia's consumer watchdog over alleged misleading advertising that could result in multi-million dollar fines.
Read more »
Samsung says its second-quarter profit likely fell 56% from a year agoSamsung said operating profit was at 6.5 trillion Korean won ($5.5 billion), which was slightly better than an industry estimate of 6 trillion won, but was down about 56% from a year earlier.
Read more »
Australia regulator sues Samsung, says water resistance ads misleadingAustralia's competition regulator said on Thursday it is suing the local un...
Read more »
Samsung in hot water over splashy Australian phone adsAustralia's consumer watchdog has sued Samsung Electronics Co Ltd's |0...
Read more »
Samsung Electronics' second-quarter profit likely halved as Huawei woes worsen chip glutSamsung Electronics is likely to say second-quarter profit more than halved when...
Read more »