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Samsung gains $10 billion in value as Huawei goes on life support

5 years ago
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The Korea Stock Exchange wrapped up Tuesday trading with Samsung gaining over US$10 billion in value compared to its Friday close, SamMobile reports.

To be more specific, Samsung’s current market cap sits at 407.5 trillion won – the equivalent of US$345 billion. Meaning the chaebol is on the verge of fully recovering from the coronavirus losses it incurred in March.

South Korean industry watchers are interpreting this week’s surge in securities as a reflection of investor confidence in Samsung’s ability to capitalize on Huawei’s rapidly deteriorating situation.

Because either the gap between Huawei’s smartphones and the Galaxy brand widens, or China’s crippled juggernaut becomes one of Samsung’s largest chip clients. Either way, the view from Seoul is improving with every extra day Huawei’s chip supply chain remains cut off at its knees.

Now, it’s worth remembering Huawei has been stockpiling chips for over a year in preparation for this day.

But as Samsung can attest, sometimes not even the latest tech does the job, so expecting HiSilicon’s penultimate and third last to do so next year is optimistic, to say the least.

This just goes to show how big of a break Samsung caught this year, in spite of how hard it got hit by the still-ongoing pandemic, together with the rest of the world.

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With its biggest rival forcibly removed out of the picture, Samsung was gifted quite a bit of breathing room. And not just in terms of figuring out its chip designs, but also in regards to stabilizing operations in some key battlegrounds such as India.

“You know what they say – one multinational conglomerate’s curse is another one’s blessing. And boy, is Samsung getting blessed hard this week. Because as of today, Huawei is officially going on life support, i.e. its chip supply chain got chipped away. And Samsung is the big winner for it,” SamMobile asserted.

Meanwhile, Samsung Display has reportedly applied for clearance from the US Department of Commerce to produce OLED screens for Huawei, in recognition of the US sanction that says any company that manufactures anything with US technology for Huawei must first seek clearance.

Huawei is Samsung Displays third biggest customer of display screens.

Tags: ChinaHuaweiSamsungUS
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