Samsung chips consolidate market position in China, overtaking exports to the US
Samsung's chip exports to China in 2023 have skyrocketed - this was revealed in the South Korean giant's financial report.
Here's What We Know
According to a report by Samsung Electronics, semiconductor exports to China in 2023 rose 53.9% year-on-year to $44.6 billion. This figure shows the excess of the company's exports to the US for the same period, which amounted to $42 billion.
Thus, the Chinese market is becoming an increasing priority for Samsung in the semiconductor segment, with LPDDR (Low Power DRAM), NAND flash memory, image sensors and display driver ICs (DDI), as well as some high-bandwidth memory (HBM) products being the main products in the period.
This surge of interest in Samsung chips is due to the Chinese government's "Old for New" programme, which is encouraging the growth of smartphones and other high-tech devices that require modern components.
The PRC has invested about $20 billion in this programme and it is already yielding results: quality Chinese electronics are rapidly conquering Western markets.
Samsung continues its policy of balancing between the US and China, remaining neutral in their geopolitical confrontation.
However, the figures for 2024 will surely show an increase in trade between Samsung and China as well. And given how unstable US economic policy has become since Donald Trump took office, we can be sure that many companies would rather deal with a predictable China than an increasingly toxic US.
Source: The Korea Post
