Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Korea, republic of
  4. Korea Stock Exchange
  5. Samsung Electronics Co., Ltd.
  6. News
  7. Summary
    A005930   KR7005930003

SAMSUNG ELECTRONICS CO., LTD.

(A005930)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Samsung Electronics : Walmart, FedEx, UPS working to ease holiday bottlenecks, White House says

10/13/2021 | 08:15am EDT
U.S. President Biden participates in virtual CEO Summit at the White House in Washington

WASHINGTON, Oct 13 (Reuters) - President Joe Biden will meet with retail and delivery CEOs and union heads Wednesday, as the White House rolls out new measures to ease supply chain bottlenecks ahead of the holiday season.

The Port of Los Angeles is going to expand its 24/7 operations to ease the shipping snarl there and at the Port of Long Beach, a senior administration official told reporters ahead of the meeting.

In addition, three large carriers of goods - Walmart , FedEx and UPS - plan to step up their round-the-clock operations to speed the shipment of goods across the country, the official said.

Samsung, Home Depot and Target are also increasing their work in off-peak hours, the official said.

"By taking these steps, they're saying to the rest of the supply chain, you need to move too," the official said. "Let's step it up."

White House officials, scrambling to relieve global supply bottlenecks choking U.S. ports, highways and railways, are warning that Americans may face higher prices and some empty shelves this Christmas https://www.reuters.com/world/us/americans-may-not-get-some-christmas-treats-white-house-officials-warn-2021-10-12 season.

"My administration is working around the clock to move more goods faster and strengthen the resiliency of our supply chains," Biden said in a tweet Wednesday.

There are 500,000 containers on ships waiting to get into Los Angeles and Long Beach, which is the busiest U.S. port complex, the White House said.

The White House expects the pledges from the six companies to expand their hours will amount to 3,500 additional containers moving each week through the end of the year.

White House spokesperson Jen Psaki told reporters Biden could not guarantee there would be no holiday disruptions.

"What we can do is use every lever at the federal government level to reduce delays," she said.

The supply crisis is driven in part by the global COVID-19 pandemic, as sales of durable goods jumped amid worker shortages and transportation hub slowdowns. Lower-than-expected Christmas sales could hurt U.S. companies and pose a political risk for Biden.

The latest Reuters/Ipsos poll shows the economy continues to be the most important issue for Democrats and Republicans alike.

Biden will meet at 1:45 p.m. ET (1745 GMT) at the White House with executives from the two ports as well as from the International Longshore and Warehouse Union, the Teamsters, the AFL-CIO, Wal-Mart, FedEx, UPS, Target, the National Retail Federation, the American Trucking Association, the Pacific Maritime Association, and more.

He will speak on these efforts at 2:20 p.m. (1820 GMT).

Some CEOs scheduled to attend noted they are already working around-the-clock. "We’ve been running 24/7 supply chain operations for years, including at the ports," said Target CEO Brian Cornell in a blog post https://corporate.target.com/article/2021/10/supply-chain-update ahead of the meeting.

Target handles about 50% of its containers that arrive in California ports at night, he wrote, and is committed to increasing that amount by 10% over the next 90 days.

LONG-TIME ISSUES

The stop-and-start nature of the pandemic has snarled global supply chains that are optimized for predictable, just-in-time movements of goods.

The White House has been trying to tackle inflation-inducing supply bottlenecks of everything from meat to semiconductors. The administration formed a task force in June that meets weekly and named a "bottleneck" czar, John Porcari, to push private-sector companies to find ways to get goods flowing.

Still, thousands of shipping containers are on cargo ships offshore waiting to be offloaded at the ports of Los Angeles and Long Beach. Similar backlogs exist at ports in New York and Savannah, Georgia. A shortage of warehouse workers and truck drivers to pick up goods is partly to blame.

Moving to smooth 24/7 operations at ports, rail yards and warehouses will require coordination and more workers.

Port and labor executives in Los Angeles say overnight truck appointments at ports went unused in the past, for example, because drivers cannot drop off cargo there, as the sites were unattended.

Companies like Walmart are finding workarounds by sending containers on bulk cargo ships and offloading them on docks commonly used for commodities.

(Reporting by Steve Holland; additional reporting by Lisa Baertlein, Arriana McLymore and Nandita Bose; Editing by Tim Ahmann, Heather Timmons and Lisa Shumaker)


© Reuters 2021
All news about SAMSUNG ELECTRONICS CO., LTD.
03:06aS.Korean stocks fall for a second day as mood sours over Evergrande
RE
10/20UNIVERSAL ELECTRONICS : Senators seek details from U.S. electronics firm on Uyghur labor
RE
10/20SAMSUNG ELECTRONICS : Solidifies Its Brand Value With Top-Five Ranking in Interbrand's Bes..
PU
10/20SAMSUNG ELECTRONICS : Galaxy Unpacked Part 2 Live Blog - What On Earth Is Coming?
AQ
10/20AN ALL-NEW CUSTOM GALAXY EXPERIENCE : Introducing Galaxy Z Flip3 Bespoke Edition
PU
10/20SAMSUNG ELECTRONICS : and Maison Kitsuné Unveil Special Edition Galaxy Watch4 and Buds2
PU
10/20Micron considering new U.S. memory chip factory as it gears up spending
RE
10/20SAMSUNG ELECTRONICS : How Samsung Is Reimagining Customer Experiences With Bespoke
PU
10/20'THEY'LL HAVE TO PAY' : Malaysia chip crunch triggers new era in supply deals
RE
10/19SAMSUNG HEAVY INDUSTRIES : South Korean Shipbuilders Beat 2021 New Order Targets in First ..
MT
More news
Analyst Recommendations on SAMSUNG ELECTRONICS CO., LTD.
More recommendations
Financials
Sales 2021 275 166 B 234 B 234 B
Net income 2021 39 385 B 33,5 B 33,5 B
Net cash 2021 108 097 B 92,0 B 92,0 B
P/E ratio 2021 11,8x
Yield 2021 2,05%
Capitalization 472 670 B 402 B 402 B
EV / Sales 2021 1,32x
EV / Sales 2022 1,15x
Nbr of Employees -
Free-Float 82,7%
Chart SAMSUNG ELECTRONICS CO., LTD.
Duration : Period :
Samsung Electronics Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SAMSUNG ELECTRONICS CO., LTD.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 39
Last Close Price 70 300,00 KRW
Average target price 98 342,11 KRW
Spread / Average Target 39,9%
EPS Revisions
Managers and Directors
Hyun-Suk Kim Co-President, Co-CEO & Director
Dongjin Koh Co-President, Co-CEO & Director
Kinam Kim President, Co-CEO & Director
Tae Moon Roh Co-President & Head-Research & Development
Hee-Chan Roh Chief Financial Officer
Sector and Competitors
1st jan.Capi. (M$)
SAMSUNG ELECTRONICS CO., LTD.-13.21%402 015
APPLE INC.12.49%2 459 027
XIAOMI CORPORATION-31.33%72 268
WINGTECH TECHNOLOGY CO.,LTD2.02%19 741
SHENZHEN TRANSSION HOLDINGS CO., LTD.-8.42%17 786
FIH MOBILE LIMITED30.53%1 329