Samsung Electronics (005930.KS) stands to be a major beneficiary of the China production problems announced by rival Apple Inc (AAPL.O) on Monday, reaping the rewards of a decade-long bet on low-cost smartphone manufacturing in Vietnam.
Buyers of an iPhone, iPad or Mac will get a free year of streaming TV, potentially drawing hundreds of millions of viewers to the service.
Apple opened a similar accelerator in 2017 in India. Both the Indian and Chinese smartphone markets are dominated by companies who make Android-based devices.
Samsung Electronics said Friday it expects operating profit to tumble 56% for the second quarter of this year in the face of a weakening chip market.
Samsung Electronics is likely to say second-quarter profit more than halved when it reports preliminary earnings on Friday, data showed, as a drop in memory chip shipments to China’s embattled Huawei exacerbated a price-squeezing supply glut.