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Samsung announced its flagship Galaxy S23 smartphone lineup on Wednesday.

Samsung

Samsung on Wednesday launched its latest lineup of flagship Galaxy smartphones, touting a better camera and enhanced gaming features as the South Korean tech giant tries to tempt people to upgrade amid weak macroeconomic conditions and waning consumer demand.

The Galaxy S23 smartphone lineup features three new models: the standard S23, a slightly more expensive S23+ and the top-of-the-line S23 Ultra. The S23 and S23+ start at a price of $799 and $1,000, respectively. The most advanced model will retail at $1,200.

All three are available for pre-order today and will hit the shelves on Feb. 17.

The S23 series will go head-to-head with Apple’s iPhone 14, which launched last September. Samsung typically releases its flagship Galaxy S models in the first half of the year and its Galaxy Z line of folding phones in the second half.

Samsung mostly made subtle improvements to its new premium handset, including improved camera capabilities.

The most expensive of the three models, the Galaxy S23 Ultra, features a 200-megapixel “adaptive pixel” sensor that combines 16 pixels into one larger pixel for brighter, more detailed shots in low light situations, Samsung said.

Samsung added users’ low-light photography with the device would be assisted by much faster processing speeds from its internal chipset, which was developed in partnership with Qualcomm, as well as artificial intelligence.

There’s also a video feature on the device called “astro hyperlapse” which lets users take time-lapsed motion shots — for example, of star movements — without any special equipment.

Samsung also touted the gaming capabilities of its new device, saying users will be able to play for longer thanks to a more powerful battery. The S23 Ultra houses a huge 5,000 mAh, or milliampere hour, battery.

The S23 Plus and S23 come with 4,700 mAh and 3,900 mAh batteries, respectively.

The company also unveiled its new Galaxy Book3 laptop lineup Wednesday, which includes a third Ultra model with a 16-inch AMOLED display. Samsung’s Galaxy Book2 came in only two options. Samsung hopes the new laptops will make a splash in the premium PC market.

The Samsung Galaxy Book3 series.

Samsung

The firm showed off software that lets users drag and drop files between its laptops and smartphones. Users can also pair the Book3 with Samsung tablets to use the latter as a second screen, Samsung said.

Tough times for smartphone market

The company is launching its new products at a particularly tough time for the consumer tech space. Demand for premium smartphones in particular has softened, with people opting to spend less on big-ticket gadgets due to climbing price pressures and tighter budgets.

Global smartphone shipments plunged 18.3% to 300.3 million units in the fourth quarter of 2022 — usually a big holiday shopping period — marking the largest decline in a single quarter on record, according to market research firm IDC.

A total of 1.21 billion smartphones were shipped in 2022, which represents the lowest annual shipment total since 2013, IDC said.

“Everything is heading in the wrong direction for consumer electronic providers,” Paolo Pescatore from PP Foresight told CNBC via email.

On Tuesday, Samsung recorded its worst quarterly profit since the third quarter of 2014. The firm reported operating profit of 4.31 trillion won ($3.4 billion), down 69% from the same period a year ago. Samsung said its performance was hampered by weak demand for mid- to low-end smartphones and memory chips.

Meantime, many people are also suffering from smartphone fatigue whereby, not quite satisfied with improvements promised by newer models, they’re holding onto their current phones for longer.

“As has been the case with most flagship launches in recent years, the customers who will feel the most benefit from Samsung’s latest devices will be those upgrading from older models or from a mid-range device,” said Leo Gebbie, principal analyst for connected devices at CCS Insight.

“Customers who have bought a premium-tier mobile in the last year or two will see little difference between the device they already have and the new Galaxy S23 family.”

In that context, Samsung has consolidated its smartphone portfolio to simplify its offering to customers. The firm incorporated its S Pen stylus into last year’s Galaxy S22, marking the symbolic end of its high-end Note phone series.

It’s also tried to boost consumer appetite for new premium phones with its folding devices. Samsung last year launched two new foldable models, the Galaxy Z Flip 4 and Galaxy Z Fold 4.

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Tesla launches refreshed Model Y in China to fend off domestic rivals

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Tesla launches refreshed Model Y in China to fend off domestic rivals

Tesla launched a revamped version of its Model Y in China.

Tesla

Tesla on Friday announced a revamped version of its popular Model Y in China, as the U.S. electric car giant looks to fend off challenges from domestic rivals.

The Model Y will start at 263,500 Chinese yuan ($35,935), with deliveries set to begin in March. That is 5.4% more expensive than the starting price of the previous Model Y.

A spokesperson for Tesla China said that the new Model Y is only open for pre-sale in the Chinese market, rather than being launched globally.

Tesla’s Model Y refresh comes after the auto giant this month reported its first ever annual decline in overall deliveries for 2024.

Elon Musk’s electric vehicle firm is facing heightened competition around the world, from startups and traditional carmakers in Europe. In China, the company continues to face an onslaught of rivals from BYD to newer players like Xpeng and Nio.

Jason Low, principal analyst at Canalys, notes that the Tesla Model Y was the best-selling EV in China in 2024 and that the popularity of the car “remains high.” However, he noted that the competition in the sports utility vehicle (SUV) segment with vehicles priced between 250,000 yuan and 350,000 yuan “has been fierce.”

“Tesla must showcase compelling smart features, particularly a unique but well localized cockpit and services ecosystem,” as well as “effective” semi-autonomous driver assistance features “to ensure its competitiveness in the market,” Low added.

Tesla is offering a number of incentives for customers to buy the Model Y including a five-year 0% interest financing plan.

The new Model Y can accelerate from 0 kilometers per hour to 100 kilometers per hour in 4.3 seconds, Tesla said, exceeding the speed capabilities of the previous vehicle. The Model Y Long Range has a further driving range on a single charge versus its predecessor.

Tesla has not introduced a new model since it began delivering the Cybertruck in late 2023, which starts at nearly $80,000.

Investors have been yearning for a new mass-market model to reinvigorate sales. Tesla has previously hinted that that a new affordable model could be launched in the first half of 2025.

Despite Tesla’s headwinds, the company’s stock is up nearly 70% over the last 12 months, partly due to CEO Musk’s close relationship with U.S. President-elect Donald Trump.

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World’s biggest chipmaker TSMC posts record 2024 revenue as AI boost continues

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World's biggest chipmaker TSMC posts record 2024 revenue as AI boost continues

The logo for Taiwan Semiconductor Manufacturing Company is displayed on a screen on the floor of the New York Stock Exchange on Sept. 26, 2023.

Brendan Mcdermid | Reuters

Taiwan Semiconductor Manufacturing Co. posted December quarter revenue that topped analyst estimates, as the company continues to get a boost from the AI boom.

The world’s largest chip manufacturer reported fourth-quarter revenue of 868.5 billion New Taiwan dollars ($26.3 billion), according to CNBC calculations, up 38.8% year-on-year.

That beat Refinitiv consensus estimates of 850.1 billion New Taiwan dollars.

For 2024, TSMC’s revenue totaled 2.9 trillion New Taiwan Dollars, its highest annual sales since going public in 1994.

TSMC manufacturers semiconductors for some of the world’s biggest companies, including Apple and Nvidia.

TSMC is seen as the most advanced chipmaker in the world, given its ability to manufacture leading-edge semiconductors. The company has been helped along by the strong demand for AI chips, particularly from Nvidia, as well as ever-improving smartphone semiconductors.

“TSMC has benefited significantly from the strong demand for AI,” Brady Wang, associate director at Counterpoint Research told CNBC.

Wang said “capacity utilization” for TSMC’s 3 nanometer and 5 nanometer processes — the most advanced chips — “has consistently exceeded 100%.”

AI graphics processing units (GPUs), such as those designed by Nvidia, and other artificial intelligence chips are driving this demand, Wang said.

Taiwan-listed shares of TSMC have risen 88% over the last 12 months.

TSMC’s latest sales figures may also give hope to investors that the the demand for artificial intelligence chips and services may continue into 2025.

Foxconn, which assembles Apple’s iPhones, reported its highest-ever fourth quarter revenue this week, as it notched strong demand for AI servers.

Meanwhile, Microsoft this month said that it plans to spend $80 billion in its fiscal year to June on the construction of data centers that can handle artificial intelligence workloads.

CNBC’s Jordan Novet contributed to this report.

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Supreme Court set to hear oral arguments on challenge to TikTok ban

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Supreme Court set to hear oral arguments on challenge to TikTok ban

Tik Tok creators gather before a press conference to voice their opposition to the “Protecting Americans from Foreign Adversary Controlled Applications Act,” pending crackdown legislation on TikTok in the House of Representatives, on Capitol Hill in Washington, U.S., March 12, 2024.

Craig Hudson | Reuters

The Supreme Court on Friday will hear oral arguments in the case involving the future of TikTok in the U.S., which could ban the popular app as soon as next week.

The justices will consider whether the Protecting Americans from Foreign Adversary Controlled Applications Act, the law that targets TikTok’s ban and imposes harsh civil penalties for app “entities” that continue to carry the service after Jan.19, violates the U.S. Constitution’s free speech protections.

It’s unclear when the court will hand down a decision, and if China’s ByteDance continues to refuse to divest TikTok to an American company, it faces a complete ban nationwide.

What will change about the user experience?

The roughly 115 million U.S. TikTok monthly active users could face a range of scenarios depending on when the Supreme Court hands down a decision.

If no word comes before the law takes effect on Jan. 19 and the ban goes through, it’s possible that users would still be able to post or engage with the app if they already have it downloaded. However, those users would likely be unable to update or redownload the app after that date, multiple legal experts said.

Thousands of short-form video creators who generate income from TikTok through ad revenue, paid partnerships, merchandise and more will likely need to transition their businesses to other platforms, like YouTube or Instagram.

“Shutting down TikTok, even for a single day, would be a big deal, not just for people who create content on TikTok, but everyone who shares or views content,” said George Wang, a staff attorney at the Knight First Amendment Institute who helped write the institute’s amicus briefs on the case. 

“It sets a really dangerous precedent for how we regulate speech online,” Wang said.

Who supports and opposes the ban?

Dozens of high-profile amicus briefs from organizations, members of Congress and President-elect Donald Trump were filed supporting both the government and ByteDance.

The government, led by Attorney General Merrick Garland, alleges that until ByteDance divests TikTok, the app remains a “powerful tool for espionage” and a “potent weapon for covert influence operations.”

Trump’s brief did not voice support for either side, but it did ask the court to oppose banning the platform and allow him to find a political resolution that allows the service to continue while addressing national security concerns. 

The short-form video app played a notable role in both Trump and Democratic nominee Kamala Harris’ presidential campaigns in 2024, and it’s one of the most common news sources for younger voters.

In a September Truth Social post, Trump wrote in all caps Americans who want to save TikTok should vote for him. The post was quoted in his amicus brief. 

What comes next?

It appears TikTok could really get shut down, says Jim Cramer

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