China 618 Smartphone Sales Drop 13% as Higher Prices Hurt Demand, Huawei Gains Market Share 
Yaskawa Electric Shares Slide as Weak Profit Overshadows Strong AI Demand 
Apple Sues OpenAI, Former Employees Over Alleged Trade Secret Theft 
Zhipu AI Raises HK$31.37 Billion in Discounted Share Sale to Accelerate AI Growth 
LG Energy Solution Q2 Profit Plunges 77% Despite Revenue Growth on Weak EV Demand 
Meta Says States Seek $1.4 Trillion in Penalties Over Teen Social Media Addiction Lawsuit 
TSMC Q2 Revenue Surges 36% as AI Chip Demand Powers Growth Ahead of Earnings 
Wolfspeed Sues Navitas Over GaN and SiC Patent Infringement 
SpaceX Stock Draws Bullish Wall Street Coverage Ahead of Nasdaq-100 Inclusion 
SK Hynix Soars 13% in Nasdaq Debut After Record $26.5 Billion IPO 
OpenAI Executive Fidji Simo to Step Down Amid Health Challenges Ahead of IPO 
Bain Capital Exits Kioxia After AI-Fueled Valuation Surge 
SK Hynix’s $28 Billion U.S. Share Sale Draws Massive Demand Amid AI Chip Boom 
Samsung to Launch First Yongin Chip Plant by 2029 as South Korea Speeds Up Semiconductor Hub 
OpenAI GPT-5.6 Set for Wider Release After U.S. Commerce Approval, Report Says 
There’s a new big player in the self-driving car business.
On Wednesday, South Korean giant Samsung Electronics confirmed that it is setting up a new division whose focus is to develop technology such as components that will allow driverless cars. CNBC said that the team it will be forming for this new division will be developing infotainment systems and autonomous driving technology. The company did not discuss how big the new division would be. Bloomberg wrote that the new team will be helmed by Samsung executive vice president Park Jong Hwan.
Endgadget said that Samsung’s latest venture is not the first for the company. Samsung did made cars in the 90s and launched a division called Samsung Motors in 1994. By the time it had started manufacturing vehicles, Samsung was forced to sell the division due to the 1997 Asian financial crisis. The division was sold to Renault, with Samsung keeping a 19.9 percent stake and control over the use of its name in the division.
