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At The Last Minute, Samsung Averts a Major Strike That Could Have Crippled the Global Tech Industry

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Samsung logo at a facility
[Photo by Jung Yeon-je / AFP]

Word came out this week that Samsung Electronics and its union members have reached a deal that staves off a threatened strike that could have had a global impact. Samsung is the world’s largest manufacturer of memory chips, and as the chip manufacturing employees’ contract was up for renewal, negotiations were challenging. However, with 90 minutes left before the strike deadline, the parties reached an agreement that includes a bonus that will average $340,000 per employee in the chip manufacturing division.

Learn all about the narrowly averted Samsung chip division strike…

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Latest Financial Results for Samsung and LG Show Impact of Trade Troubles

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Samsung and LG released preliminary financial results

Two major South Korean tech behemoths, Samsung Electronics and LG Electronics, have released preliminary reports on their financial results for the second quarter of fiscal 2025, and these results paint a troubling portrait of a changing trade environment where declining profits and softening consumer demand foretell a challenging road ahead. Both companies reported modest revenue declines and more dramatic operating profit declines as each scrambles to adjust operations for a challenging business environment.

Read all about the strong headwinds buffeting Samsung and LG

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Samsung Electronics and Union Finally Reach a Preliminary Agreement

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NSEU union members in a rally outside of Samsung Headquarters

Samsung Electronics and the largest union at the company have finally reached a preliminary agreement on a new contract that provides for a wage increase as well as other benefit enhancements, the company announced today in Korea. The deal should put an end to any further labor actions. However, it still needs to be ratified by the union membership.

Learn more about this first labor action at Samsung

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Samsung Employees Return to Work as Union Ends Strike with No Concessions

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Samsung employees in NSEU union
[PHOTO: Tina Hsu for The New York Times]

Earlier this month the National Samsung Employees Union (NSEU) opted to end its strike, even though it won no concessions from the company. The strike was the first ever union-directed work-stoppage action in Samsung’s history and threatened to impact critical production schedules at one of the world’s largest consumer electronics companies.

See why Samsung union employees went back to work with no deal

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With Week 3 of Strike About to Begin, Samsung Management Says, Let’s Talk

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NSEU leaders say worker participation has only increased as strike enters third week [Click to enlarge]

As I’ve been reporting, Samsung’s largest union, the 30,000+ member strong National Samsung Electronics Union (NSEU), has launched a strike against one of the largest employers in all of South Korea. This is not a common occurrence anywhere in Asia, and it is the first major strike Samsung has ever experienced.

Now, after two weeks of continuous work stoppage, Samsung management finally indicated to the union that it was interested in restarting the negotiations – a big win for union leaders.

See more on the first-ever union-directed work stoppage at Samsung

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Samsung Strike Suddenly Gets Serious

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The main union at Samsung, the NSEU, held a strike at a production facility
A union-staged event in front of a Samsung facility in the rain. Look past the signs to get a sense of the thousands of union members who participated in the strike [Click to enlarge]

The relationship between Samsung and its largest union is rapidly deteriorating and suddenly, a strike called by the union initially more for show than impact, has turned very serious. That means that as the union progresses its tactics, the impact on production is likely to quickly reach the point that it will be felt by the company and all of its customers.

See more on the escalating strike at Samsung

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In a Rare Move in Asia, Workers’ Union Calls for a Strike at Samsung

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The NSEU union orders a strike at Samsung

The National Samsung Electronics Union (NSEU) announced on Monday that it will launch a general strike against Samsung that will continue until the company meets its demands for better pay and more time off, according to a report by Reuters. The union went on to warn “of [a] more damaging action” against the company than a one-day walkout last month.

See more about a nasty labor situation building at Samsung

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Global Manufacturing Inventory Levels Hit a Record $1.8 Trillion

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Record high manufacturing inventory levels could mean trouble
[Photo: Getty Images and AFP/Jiji]

Manufacturers Struggle with Multiple Global Challenges

A broad group of global manufacturers in diverse markets from Ford to Samsung have seen their inventory levels swell as consumer demand weakens in the wake of surging inflation and destabilizing economic conditions, according to a new analysis by the Nikkei. According to their research, global manufacturing inventories have swelled to $1.8 trillion, a record total that is the highest measured manufacturing inventory level in the last ten years.

Learn more about rising manufacturing inventory levels

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Samsung Says ‘Recent Rise’ of COVID, is Cause for Withdrawal from CEDIA Expo

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BREAKING NEWS

Photo from CEDIA 2017

The announcements are coming faster than I can get them written up, as I learned late Friday that Samsung has notified their dealers that they too have pulled out of the CEDIA Expo 2021. Pressure is building on other exhibitors to take a stand. A tipping point may be approaching…

See more on Samsung exiting CEDIA Expo…

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