Posts tagged with "Samsung"

Samsung to create 2,000 jobs in Texas with $17 billion chip factory

November 25, 2021

Samsung is planning to build a $17 billion semiconductor manufacturing facility in Texas as part of efforts to tackle a global shortage of chips, reports CNN.

Announcing its largest-ever investment in the United States, the South Korean electronics giant said on Tuesday, November 23, that the factory would create 2,000 high-tech jobs directly, and thousands more in the local economy once it is in full operation. The facility is expected to begin operations in the second half of 2024.

“With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain,” Kinam Kim, CEO of Samsung Electronics, said in a statement.

The company said that it chose the City of Taylor in Texas for its new plant based on multiple factors, including its proximity to Samsung’s current manufacturing site in Austin, the local semiconductor ecosystem, and government support.

The Taylor site will span more than 5 million square meters (or 1.2 million acres) and is expected to serve as a key location for Samsung’s global semiconductor manufacturing capacity, along with its latest new production line in Pyeongtaek, South Korea.

Samsung’s announcement comes at a time when the Biden Administration has been pushing semiconductor production and research in the United States.

Although the current worldwide shortage of computer chips is primarily driven by the impact of the pandemic, extreme weather events that have hampered production and other factors, the United States has been lagging behind other producers for years.

Indeed, America’s share of worldwide semiconductor manufacturing dropped to just 12% last year, according to the Semiconductor Industry Association (SIA). That’s down from 37% in 1990. The trade group blamed “substantial” subsidies offered by foreign governments that place the United States at a “competitive disadvantage.”

Asian countries, including Taiwan and South Korea dominate the industry. Samsung and other South Korean manufacturers are spending huge amounts of money to shore up their production in the decade ahead.

In May, Samsung said that it would invest 38 trillion Korean won (US$34 billion) on production of logic chips, the brains that power computers. That brings its total spend on the business to 171 trillion won (US$151 billion) over the next decade, including commitments announced in 2019.

Research contact: @CNN

A new ‘spin’ on benefits: A free Peloton membership could be the latest work perk

June 23, 2021

Paid time off, retirement benefits and … a Peloton membership? That could be your newest work perk, as the fitness company rolls out a corporate program that offers free app memberships that normally cost $12.99 per month, CNN reports.

Peloton Corporate Wellness is aimed at “providing employees access to innovative mental and physical health resources” the company announced on June 22. The program gives participants access to the Peloton app, which features thousands of instructor-led fitness classes—among them, meditation, strength training, and cardio. Discounts on Peloton hardware, including its popular bikes, are also included.

Peloton Corprate Wellness is launching after “several years” of interest from companies looking to include it as a work benefit, said Peloton President William Lynch. In an interview with CNN Business, he said that the goal is to “extend the Peloton universe to more communities” by growing beyond its current direct-to-consumer business.

Lynch declined to disclose pricing specifics, but said it’s a “really good value” for companies.

The program will be available to employers in five countries including the United States, Canada, and the United Kingdom. Peloton says it already has signed up big name firms for the launch, including Wayfair, Samsung, and SAP .

In its release, Peloton emphasized the mental and physical benefits its members experience using the app. According to a survey commissioned by the company, 77% of users said the classes made them happier and 65% said their mental health improved.

These types of benefits have become increasingly important for employers, especially in light of the pandemic, with some offering workers days off to bolster mental health or providing free subscriptions to mental-health focused apps.

And some companies are coming up with novel ways to keep their remote workers engaged with gifts, like picnic boxes and laundry service.

Peloton is a nine-year-old, New York City-based company founded with help from Kickstarter. This  program also is aimed at expanding its app user base, which currently totals around 900,000 subscribers, and therebyappeasing investors looking for growth.

The company recently announced new pricing tiers for the app, with students paying as low as $6.99 per month and teachers, healthcare workers and first responders being charged $9.99 per month.

The once high-flying stock has seen its fortunes dwindle, with shares down 25% for the year. However, the stock has rebounded following a May 5 treadmill recall, soaring 30% since then. About 125,000 treadmills were included in the recall, which the company said cost it $165 million in lost sales.

Research contact: @CNN

Prime time: In rivalry with Amazon, Target offers ‘deal days,’ eBay plans a ‘crash sale’

June 27, 2019

Amazon is promoting its “Prime Day” again—but other retailers aren’t going to be caught out again this year. They are offering a bevy of their own deals, which they hope will dazzle shoppers and draw them into their websites and brick-and-mortar locations.

According to a report by CNBC, both Target and eBay so far have announced their own deal strategies following Amazon’s announcement on June 25—in which the company said Prime Day will actually run for two days this year and begin at midnight (PT) on July 15.

Target is plugging its “deal days” on July 15 and 16. The discount chain said in a June 25 press release, “Savers, start your engines. Today we’re unveiling Target Deal Days, two (yep, two!) days of red-hot online sales, no membership required. On Monday, July 15, and Tuesday, July 16, you’ll be able to save big with thousands of deals across Target.com and on the Target app, with new deals each day.”

As it says above, Target is emphasizing that no o membership is required to shop the special deals—as is the case with Amazon’s event. Customers can also receive 5% in savings when they use a Target credit card.

Last year,  CNBC reminds us, Target held a one-day sale on its website that aligned with Prime Day. It was one of the retailer’s biggest days of the year for online sales, according to Target’s Chief Merchandising Officer Mark Tritton.

Amazon rival eBay, meanwhile, is holding what it calls a “crash sale.” It said it will start offering some deals as early as July 1. But on July 15, it will be offering deals on major brands including LG, Apple, Samsung, KitchenAid, and Garmin.

What’s more, eBay snarks,  it will drop more deals if Amazon’s website crashes, as it did last year at the start of Prime Day.  “July has become a massive shopping season,” Jay Hanson, COO of eBay’s Americas division, told CNBC.

On Prime Day, which started in July 2015 as a way to mark the company’s 20th anniversary, Amazon Prime members can buy highly discounted products. The deals are applied to most of the goods Amazon sells. And many items will sell out within minutes, creating a sort of Black Friday scramble where people are trying to buy things as quickly as possible.

Amazon said last year’s Prime Day was its biggest ever, topping a record in 2017. And so it’s plausible this year could be even more successful since it runs longer, CNBC says.

Amazon shares are up about 25% so far this year. Target’s stock has rallied close to 30%; eBay shares are up more than 39%.

Research contact: @CNBC

Who are ‘influencers’ and how do they get paid?

December 17, 2018

If you enter the hashtag #influencer on Instagram, you’ll quickly navigate to a page with nearly 10 million posts. But that’s only the tip of the influencer iceberg, so to speak. According to Mediakix, there will be 21.7 million brand-sponsored influencer posts on Instagram by the end of the year—and 32.3 million by the end of 2019.

From micro-influencers making $50 per post to Instagram superstars like singer Ariana Grande , who command half a million dollars per post, the Instagram influencer market runs the gamut in terms of following, audience, and engagement; and it has even the biggest brands buying in. AdidasSamsungAmerican ExpressMicrosoft, and many more are finding ways to partner with Instagram influencers to reach their audiences and create new ones.

But how do you get started? In the case of Amber Venz (#venzedits), who spoke to CNN for a December 12 report, by the time she was in high school, she was designing and selling jewelry. And by the time she was 23, Venz was running a website that showcased her work as a personal shopper

 “I posted three times a day, and it was like trend stories and sale alerts,” Venz told the network news outlet.

Within a few months, the site was generating so much buzz around her hometown of Dallas that The Dallas Morning News ran a full-page story about her site. “It said ‘Meet the Blogger… She is now doing all these services online for free.’ My blog actually became quite famous,” she says.

But the “for free” part irked her. According to the CNN rags-to-riches tale, Baxter Box (who was her boyfriend at the time and is now her husband) got her thinking about how she could make money from the “free” fashion and style tips she was offering on her site. That’s when they came up with RewardStyle, an invitation-only platform that allows fashion and lifestyle bloggers and influencers to make money from the content they post.

Created in 2010, the company website says, “RewardStyle influencers have exclusive access to an innovative ecosystem of monetization tools, a global network of 4,500+ retail partners, and tailored growth services-all designed to power the monetization of your content.”

Today, the website has formed a global community of more than 250 team members, 30,000 top-tier influencers, and 1 million brand partners across more than 100 countries.

“With a proprietary ecosystem of innovative technology, strategic growth consulting, global brand partnerships, and expansive consumer distribution, we’re doing more than just monetizing the industry—we’re defining it,” Venez claims.

Here’s how it works, CNN reports: Bloggers write a post or post a photo on social media and hyperlink to a particular brand or retailer’s web site. If a person clicks on the link and purchases the featured product, then the blogger gets a commission. Venz says the commissions vary depending on the brand, but are typically between 10% and 20%.

RewardStyle gets a cut as well, but Venz wouldn’t disclose how much the company makes each time an influencer helps make a sale. “Everyone only gets paid when a consumer actually makes a purchase and the retailer is paid. It is all commission-based,” she said.

“These are primarily women who love fashion or interiors or talking about their family or their fitness routines and they have attracted an audience that loves their point of view and comes to their content on a daily basis,” says Venz. “We’ve given them a way to monetize that.”

And 4,500 brands, including Walmart, CVS, Amazon and Gucci, also use the platform, which has racked up $3.8 billion in total sales since it was founded.

Despite the company’s success, Venz told the news outlet that wants to keep innovating. “We are not low on ideas. So the thinking that we’ve peaked early is honestly not something that’s crossed my mind,” she says.

In 2017, for example, the business introduced a consumer shopping app called LIKEtoKNOW.it. The app lets users take a screenshot of content anywhere on the internet created by an influencer. RewardStyle will then send them links to buy the products that appear in the screenshot. The app has 2 million users and has generated $210 million in sales for its retail partners so far.

“One of the things I love about RewardStyle is that it is empowering thousands of women to do the thing I always wanted to do, which was work in the fashion and media industry,” says Venz.

Research contact: @rewardStyle