英文亚太地区科技-三星关税影响

Specialist SalesAPAC Specialist Sales27 May 2025JPMORGANJPM APAC Technology - Samsung tariff impactDuncan Wagner+852 2800 8874duncan.wagner@jpmorgan.comSamsung Jay Kwon formalizes 25% smartphone tariff impact would have up to a 8% OP impact. A ~3.3% smartphone price hike would mitigate this impact which is less likely by AT&T and slightly more so for Verizon, which would put an OP impact closer to mid-single-digits. NEG Mio Shikanai attributes the upside to display glass revisions, not glass fiber. Mio points out the glass fiber, specifically T Glass, choke point is NITTOBOKey Highlights Today•Samsung Elec (O/W PT W54,200): 25% smartphone tariff up to ~8% OP impact – Jay Kwon link•Nippon Elec Glass (O/W PT Y3,388): display glass price revisions; glass fiber structural reforms – Mio Shikanai link•Oracle Japan (N PT-> Y16,000): trim EPS, cautious on F4Q Matthew Henderson linkUse the links below to jump straight to each section:Detailed HighlightsSector Key NewsflowFull Research LinksD