Report
EUR 17.34 For Business Accounts Only

Samsung Electro-Mechanics (009150.KS): In the light of Galaxy S9

SEMCO’s 3Q17 consolidated sales to be 0.9% above our estimate, coming in at

KRW1.87tn on the back of higher ACI sales led by rigid flex PCB.

Samsung Electronics (005930.KS, BUY) joining the

movement to make dual-camera phones along with Oppo, Vivo, and Xiaomi, dual cameras’ share

of sales at SEMCO should grow to 40% this year.

Underlying
Samsung Electro-Mechanics Co. Ltd

Samsung Electro-Mechanics manufactures, markets and distributes devices, parts and components. These are parts and components for mobile communications, computer components and peripherals, materials, general and industrial use, optical/thin film and audio and video. Co.'s products consists of flyback transformers, radio frequency modulators, low noise block-down converters, VCR drums, VCR heads, VCR drum motors, electronic tuners, multi-layer ceramic capacitors, deflection yokes, RF-units, high voltage capacitors, speakers, decks, keyboards, switching mode power supplies, floppy disc drives, CD-decks, and broadcasting satellite receivers.

Provider
Hyundai Motor Investment & Securities
Hyundai Motor Investment & Securities

Hyundai Motor Investment & Securities is the investment banking arm of the Hyundai Motor Group. The company offers stock brokerage and advisory services; derivative products brokerage and advisory services; wrap account portfolio management services; and VIP wealth management and tax planning, institutional equities, derivatives, and futures brokerage services, as well as sells investment and institutional products. It also provides equity offering, ABS, real estate PF and real estate PF securitization, offshore SOC, structured financing, asset securitization, real estate sales, IPO advisory, and private equity fund and fund management services; and CMA/RP portfolio management and fixed income based investments, as well as involved in the issuance, management, and brokerage of OTC derivatives. In addition, the company offers research services, including macro economic forecasts and stock market outlook, industry overviews and forecasts, fixed income strategies, corporate credit analysis, and valuation analysis. Further, it offers a range of retirement and pension services for individuals and corporate members; portfolios and asset allocation consulting and marketing services; proposing retirement pension plans; contract and payment management services; pension plan advisory and actuarial services; and system development and implementation services, as well as operates call centers for retirement pension services, etc. 

Analysts
Greg Roh

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