📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

Samsung chief Lee discusses cooperation with Meta, Amazon and Qualcomm

Published 06/13/2024, 04:06 AM
Updated 06/13/2024, 04:11 AM
© Reuters. The logo of Samsung is seen in front of the company building in Seoul, South Korea, June 7, 2024. REUTERS/Kim Hong-Ji/ file photo

SEOUL (Reuters) - Samsung Electronics (KS:005930) said on Thursday its chairman met with the heads of Meta (NASDAQ:META), Qualcomm (NASDAQ:QCOM) and Amazon (NASDAQ:AMZN) this week to discuss cooperation and that topics included artificial intelligence, cloud services and chips.

Meta's Mark Zuckerberg invited Jay Y. Lee to his home on Tuesday and their discussions spanned AI as well as virtual and augmented reality, Samsung said in a statement.

Lee also met with Amazon CEO Andy Jassy and Qualcomm CEO Cristiano Amon to discuss cooperation in semiconductors, including memory chips for Amazon's data centres and cloud services as well as chip contract manufacturing for Qualcomm's mobile processors, Samsung said.

The South Korean tech giant plans to hold a company-wide strategic meeting around the end of June which will be informed by Lee's discussions on cooperation with the three U.S. firms, it added.

Lee is on a two-week visit to the United States.

Samsung has lost ground compared to competitors in chips, especially high-end memory for AI, and its newly appointed head of its semiconductor division has called on staff to pull together to overcome a raft of challenges.

Amazon is a key Samsung client for chips and the two firms also work together in various fields such as TV, mobile and content.

© Reuters. The logo of Samsung is seen in front of the company building in Seoul, South Korea, June 7, 2024. REUTERS/Kim Hong-Ji/ file photo

Samsung's high-end smartphones use Qualcomm's Snapdragon mobile processors, and the companies have recently expanded their partnership to AI-enabled PCs.

Meta is also a Samsung chip client and it has worked with Samsung on the South Korean firm's Gear VR headset and foldable smartphones.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.