Afternoon Coffee: Samsung Acquires Stake in BYD, SoftBank Buys Apple Supplier ARM

Robert Kneschke/ Adobe Stock

Samsung Electronics Co. is acquiring a stake in Chinese electric vehicle and battery manufacturer BYD Co. Specific details on the deal have not been disclosed, however, last week, Samsung said the investment in BYD would “strengthen our chip business for electric cars.”

Japanese technology company SoftBank will acquire Apple semiconductor supplier ARM Holdings for $31.7 billion. SoftBank called ARM a “market-leader in its field.”

A recent survey of hundreds of supply chain managers showed the majority of supply chain organizations have an Internet of Things (IoT) strategy in place or plan to adopt one. Additionally, 87% of survey respondents plan to expand the use of IoT technology in their organization.

Fears of global oil supplies growing even bigger pushed down oil prices today, with U.S. crude falling to around $45 a barrel and Brent crude prices dropping more than $1 to a session low of $46.51. Morgan Stanley also said demand for fuels including diesel and gasoline were low.

SIGN UP for the Spend Matters newsletter Dirty Rotten Spendrels

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.