三星HBM 4，最大挑战

Core Viewpoint - Samsung Electronics is experiencing a recovery in its core business areas, particularly in semiconductors, following the resolution of Chairman Lee Jae-Yong's legal issues. The company has signed a significant contract worth 22 trillion KRW with Tesla, marking a turnaround for its foundry business and the System LSI department [2][3]. Group 1: Semiconductor Business Developments - The DS (Device Solutions) division of Samsung Electronics has successfully addressed two of the three major challenges it faced in the second half of the year, specifically in the memory sector with HBM and the foundry sector with 2nm technology [3]. - The Galaxy Z Flip 7, launched on September 9, features the Exynos 2500 processor, which has helped to recover from previous setbacks. Initially, the Galaxy S25 series was expected to use this chip, but the mobile division opted for Qualcomm's Snapdragon 8 instead, leading to a disappointing outcome for Exynos [3][4]. - Samsung Electronics announced a contract for 2nm semiconductor mass production worth 22.7647 trillion KRW with Tesla, a significant client that the foundry division has long sought. This contract is expected to bolster the company's position in the semiconductor industry [3][4]. Group 2: Market and Ecosystem Implications - The contract with Tesla is seen as a catalyst for industry rebound and ecosystem expansion, as it can revitalize the entire semiconductor sector by attracting more global clients and establishing a robust ecosystem involving foundries, IP, design companies, and post-processing firms [4]. - The HBM (High Bandwidth Memory) business remains a critical area for Samsung, which has made progress by confirming the supply of 12-layer HBM3E to AMD. However, it still needs to build sufficient momentum to change market perceptions that it lags behind competitors like SK Hynix [4][5]. - In the second quarter, HBM3E accounted for over 80% of Samsung's total HBM business, with expectations that this will exceed 90% in the second half of the year. The company has also completed mass production approval for HBM4 using 1c DRAM and has supplied samples to clients [4][5].