Good morning, tech fam; here are some quick tech updates for you to catch on to!
What’s New Today: AI Chip Market Struggles Hit Samsung's Q4 Guidance
Fast-Track Insights: Superhero Capital Launches Fund for Tech Startups in Finland
Here’s a quick rundown of the biggest tech headlines making waves today. From the AI Chip Market Struggles Hit Samsung's to Hershey Hiring MBA Graduates, let’s dive into the top tech stories of the day.
Samsung Electronics announced its Q4 2024 earnings guidance, showing a YoY operating profit increase of 131% to KRW6.5 trillion ($4.5bn), below market expectations of KRW7.7 trillion. Consolidated sales rose 10.7% YoY to KRW75 trillion ($51bn), but fell 5.2% from the previous quarter. Struggles in the AI chip market, especially in high-bandwidth memory (HBM) production, weighed on earnings. Rival SK hynix's dominance in supplying HBM chips to Nvidia compounded Samsung’s challenges. Increased R&D expenses and intensified competition in the smartphone market also pressured profits. Despite Q4 setbacks, Samsung's full-year operating profit surged nearly fivefold to KRW32.73 trillion.
Superhero Capital, a Helsinki-based venture capital firm, has launched its fourth fund with a target of €50 million to invest in early-stage software startups across Finland and the Baltics. The new fund is backed by Elo Mutual Pension Insurance and Tesi, with a strategic expansion into Lithuania, where venture capitalists Gytenis Galkis and Audrius Milukas join as partners. The firm’s first investments include CyberUpgrade, a Lithuanian cybersecurity startup, and Behavix, an AI-driven behavioral analytics company. With over 40 active portfolio companies and nearly 10 years of experience, Superhero Capital continues to support innovation in the region.
Hershey is hiring a Manager Key Accounts – E-commerce for their Mumbai location. This role involves managing key accounts in the e-commerce channel, maintaining relationships, on-boarding new accounts, and achieving business growth. Key responsibilities include achieving sales targets, developing joint business plans, managing promotions and activations, monitoring digital shelf compliance, ensuring timely product launches, and coordinating demand planning with the SCM team. The role also includes managing financial health, claims, and reporting. Candidates should have 6-8 years of experience, including 4-5 years in e-commerce. A graduate degree is required, with an MBA preferred.
South Korea is lifting its ban on institutional cryptocurrency trading, signaling a major shift toward aligning with global financial standards and promoting a safer crypto ecosystem. This decision aims to attract global investors, increase market liquidity, and position South Korea as a hub for digital asset trading. The move reflects the country’s commitment to adopting international regulations, particularly those of the Financial Action Task Force (FATF), to combat illicit activities. Alongside this, South Korea plans to tighten regulations on meme coins and update broader crypto regulations to ensure consumer protection, cybersecurity, and sustainable market growth.
Asia continues to drive global economic growth, and with it, artificial intelligence (AI) has emerged as a key catalyst for transformation. From manufacturing and banking to healthcare and beyond, AI is revolutionizing industries across the region. As Asia's digital landscape evolves at breakneck speed, AI is enabling businesses to optimize operations, unlock creativity, and fuel innovation. This article showcases exemplary cases of AI-driven economic growth in Asia, highlighting the region's most exciting success stories.