Good Job! Samsung Takes the Leap to Capitalize on Cryptocurrency Obsession

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The firm's largesse has encouraged investors to hold shares despite concerns that the memory business may be peaking. These chips will be custom designed.

Also on Wednesday, Samsung Electronics' board of directors made a decision to lower the face value of its stocks from 5,000 won to 100 won, a move that would dramatically increase the number of common stocks to more than 6.41 billion from the current 128.3 million. In the latest financial report, which the company has posted this week, Samsung's full-year revenue totaled almost 240 trillion Korean won ($224 billion) in 2017.

Samsung is very well know for its semiconductor business and how well it's doing.

Samsung said it expected DRAM and NAND flash chip shipments to grow on-year by about 20 percent and 40 percent respectively in 2018.

Samsung has revealed that it's working on creating specially designed processors for a Chinese cryptocurrency mining company, which the South Korean tech giant expects will boost its 2018 earnings significantly. The technology needs powerful chips to validate transactions.

Waymo to purchase more autonomous minivans from Fiat Chrysler
Waymo launched its Phoenix test program in November 2017, and the service it set to officially launch in Phoenix later this year. Among other cities the service is being tested in include San Francisco, California, Detroit, Michigan and Kirkland, Washington.

The iPhone X is the first smartphone from Apple to feature an OLED display and since Samsung has a near monopoly in the smartphone OLED panel market, it's the only supplier that can produce OLED displays at a volume not only for itself but for customers like Apple.

Samsung itself joined the Ethereum Enterprise Alliance in May past year, and in November announced a five months contract with the Seoul Metropolitan Government to establish an Information Strategy Plan for Blockchain based innovations in Seoul.

Also, this should affect the price of cryptos seeing that a big company like Samsung is investing in them.

Sales rose 23.7 percent to 65.9 trillion won in the October-December period from a year earlier, also marking a quarterly record.

Kwon Young Choi, the vice president of Samsung's display unit, brushed off reports that Apple will cut iPhone X production for the first three months of the year amid soft sales, saying the screen business was not dependent on any one client. It has been several years since Samsung posted a record full-year profit.