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April 30, 2019updated 29 Apr 2019 4:21pm

Samsung holds investor call following profit warning / Facebook F8 Conference gets underway / US heads to China to hammer out trade deal

By Luke Christou


Good morning, here’s your Tuesday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.

Samsung holds investor call following profit warning

South Korean electronics giant Samsung today announces its earnings from the first quarter of 2019 week after admitting that it expected profits to drop by 60% year-over-year earlier this month.

Samsung’s Q1 guidance suggested that operating profit for the quarter would be 6.2tn won ($5.5bn), less than 40% of the $14.4bn recorded in the same period last year. The company has put the poor results down to declining memory chip prices, falling demand for its OLED displays and slowing growth in the smartphone market.

This is the first time that Samsung has been forced to issue a profit warning ahead of its results, and follows a similar move by Apple earlier this year.

A conference call is being held to discuss the results at 10am local time, which can be streamed via the Samsung investor relations website.

Facebook F8 Conference gets underway

Social media giant Facebook will today kick off its developer conference, F8.

Facebook F8 is an annual conference held to showcase the various products and innovations that its developers are working on. However, it will be hard for Facebook to focus on its successes given the many issues that it currently faces.

Mark Zuckerberg kicked off last year’s conference with a speech on the controversies that were plaguing the company, such as Russian election meddling and the Cambridge Analytica scandal. Coming a month after Facebook confirmed that it had exposed hundreds of millions of Facebook user passwords, the CEO will undoubtedly be forced to face the company’s problems again this year.

Facebook F8 will be held at the McEnery Convention Center in San Jose, California over the next two days.

US heads to China to hammer out trade deal

United States Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will head to Beijing, China, today in the hopes of agreeing a deal that will end the long-running US-China trade dispute.

Both sides feel that an agreement is now in reach, with US officials citing the progress that has been made on the forced transfer of intellectual property for technology companies hoping to enter the Chinese market.

“They’re talking about forced technology transfer in a way that they’ve never wanted to talk about before – both in terms of scope and specifics,” a senior US administration official told Reuters last month.

Discussions this week will focus on an enforcement mechanism, which will ensure that any agreements are upheld once talks conclude.

Monday’s Highlights


You’ll soon be able to earn cryptocurrency while you drive

Louis Vuitton blockchain project “beginning of a new era” for luxury brands

Here East: Building a home for esports in the UK