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Newsweek
3 days ago
- Business
- Newsweek
Made-in-America Trump Phones Will Cost Double the Advertised Price
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A new smartphone under President Donald Trump's brand, which was unveiled by his eldest sons on Monday, will cost well above its advertised price of $499 if it is indeed manufactured in the U.S., experts have told Newsweek. "A phone truly made in the U.S. today would likely cost well over $1,000," said Tinglong Dai, a supply chain expert and professor at the Johns Hopkins Carey Business School. "Without access to Asia-based manufacturing and scale, the economics simply don't work." Newsweek has reached out to Trump Mobile, the company behind the phone and new cellular service, for details on where the T1 smartphone will be manufactured. Why It Matters Trump and his administration have already put a significant political and economic premium on companies manufacturing in the U.S.—this being one of the principal goals of his trade agenda—while threatening companies who refuse to relocate production with punitive tariffs. Experts have already cast significant doubt the claim made by the Trump Organization and its representatives that the new T1 smartphone, set for launch in a few weeks, can or will be made in America. They have pointed to the marked disparity in labor costs between the U.S. and China, as well as the latter's heavily developed and specialized industrial ecosystem, tailor-made for the mass assembly of such technologies. What To Know On Monday, The Trump Organization, the umbrella company for the president's business ventures now managed by his sons Eric and Donald Jr., announced the launch of T1 Mobile, a full-suite cellular service managed by the newly formed Trump Mobile and aimed at America's "hardest-working people." While customers are able to switch onto this service—and its flagship "47 Plan"—with their current devices, the company also unveiled the T1 Phone, described as a "sleek, gold smartphone…proudly designed and built in the United States." On the Trump Mobile website, the phone is similarly billed as "MADE IN THE USA," and available for pre-order ahead of its September release, with a price tag of $499 and a down payment of $100. In an interview with conservative host Benny Johnson, Eric Trump said that the phones could be manufactured domestically, and that "eventually, all the phones will be built in the United States." A spokesperson for the Trump Organization told The Wall Street Journal that production "will be in Alabama, California and Florida." Donald Trump Jr. participates in the announcement of Trump Mobile, in New York's Trump Tower on June 16, 2025. Donald Trump Jr. participates in the announcement of Trump Mobile, in New York's Trump Tower on June 16, 2025. Richard Drew/AP Photo Currently, the only company manufacturing smartphones entirely within the U.S. is Purism, whose Liberty Phone is produced at its facility in Carlsbad, California, and retails for $1,999. In an interview with 404 Media published in April, Purism's founder and CEO Todd Weaver said that the smartphone relied on the use of certain imported components and leveraged knowledge gained from consultations with Chinese designers and manufacturers. Weaver also noted the superior technical knowledge in China, telling the outlet: "You could count the number of skilled electronics engineers on U.S. soil, and there's probably a million in Shenzhen alone." As experts told CNN, images of the new T1 phone closely resemble many already available on the market, including the Revvl 7 Pro 5G, designed and made by Jiaxing, China-based firm Wingtech Technology. Robert D. Atkinson, founder and president of the Information Technology and Innovation Foundation (ITIF), a D.C.-based think tank, told Newsweek that the only way for Trump Mobile to follow through on its promise of an American-made smartphone would be to "build a highly automated factory," otherwise high labor costs would make it "very hard, if not impossible to keep the price under $500." He added that it would only make sense to construct such a factory if sales were sizeable, given the capital required for equipment and software, but that it was still possible. "The Trump Organization could easily find a company, like Rockwell automation, to build them a highly automated factory," he said. " And the skills to operate it could be developed, especially if there was a community/technical college nearby that established a training program." Dai similarly said a U.S.-made phone could be possible, albeit "in the very long run," and that doing so by its advertised September launch "without a working prototype or supply chain in place, would take nothing short of a miracle." He added that the Federal Trade Commission (FTC) places stringent requirements on companies who wish to put the "Made in USA" label on their products. According to FTC guidelines, this can only be done if "the final assembly or processing of the product occurs in the United States, all significant processing that goes into the product occurs in the United States, and all or virtually all ingredients or components of the product are made and sourced in the United States." What People Are Saying Economist Susan Helper told Newsweek that it was currently "not feasible" to make phones in the U.S., "but if we wanted to build toward this, we could make them (or next generation) here in say five to 10 years." She added that using U.S. strengths, such as 3D printing—"rather than millions of people screwing in tiny screws"—the final product "wouldn't necessarily be so much more expensive." Todd Weaver, CEO of Purism, told CNN: "Unless the Trump family secretly built out a secure, onshore or nearshore (fabrication) operation over years of work without anyone noticing, it's simply not possible to deliver what they're promising." What Happens Next? Alongside lingering questions over the origin of the T1, and its reliance on imported components, Trump Mobile and the Trump Organization have provided conflicting details on the official launch date: the former listing this as August, and the latter as September.
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Korea Herald
3 days ago
- Business
- Korea Herald
[Bio USA] Samsung Biologics doubles down on CDMO leadership after biosimilar spinoff
CEO John Rim says Bioepis separation unlocks transparency, enhances investor clarity, sharpens strategic focus BOSTON — Samsung Biologics CEO John Rim unveiled an ambitious road map to strengthen the company's position as a global leader in CDMO during a press conference held on the sidelines of this year's Bio USA on Tuesday, emphasizing sharpened focus, expanded capabilities and accelerated global expansion. At the center of the announcement was Samsung Biologics' recent corporate split, which fully separates its CDMO operations from Samsung Bioepis, its former biosimilar arm. Rim described the move as a milestone that allows Samsung Biologics to operate as a 'pure-play CDMO.' 'By becoming a stand-alone CDMO, we can focus entirely on our core mission—delivering best-in-class biomanufacturing and development services while enhancing transparency and trust with our global partners,' said Rim. 'This also enables investors to evaluate each business based on its own strategic value and growth potential.' The strategic restructuring is expected to unlock hidden value within Samsung's portfolio and further elevate shareholder value by making the distinct business models more visible and investable. Highlighting strong sector fundamentals, Rim pointed to rising global demand for biologics manufacturing, driven by expanding indications for blockbuster drugs and the development of new modalities, such as ADCs, AOCs and gene therapies. "Following the corporate split, our overseas clients responded positively, as it eliminated any perceived conflicts of interest," Rim emphasized. "Samsung Biologics will continue to fuel its growth by advancing its three core pillars: Geographic expansion, increased capacity and diversification of modalities." According to market research firm Frost & Sullivan, the global biologics CDMO market is projected to grow at a CAGR of 15 percent from $21.8 billion in 2024 to $43.9 billion in 2029. Despite some pharma companies announcing in-house capacity expansions, CMO outsourcing demand continues to rise as pharma remains cautious with internal investments. "Just three years ago, there were industry-wide concerns about potential oversupply in the CDMO market. However, we've since witnessed consistent double-digit growth, and with continued category expansion — particularly in the antibody segment — the outlook for CDMOs appears stronger than ever," Rim explained. Samsung Biologics is doubling down on its global client outreach. The company currently serves 17 of the top 20 global pharmaceutical companies and has intensified efforts to expand its reach among the top 40. In addition to sales offices in New Jersey and Boston, it opened a Tokyo office earlier this year to improve engagement with Asia-based clients. 'Our global clients trust Samsung for both scale and speed. As we expand geographically and technologically, we are committed to offering localized support with global excellence,' Rim emphasized. As of June 2025, Samsung Biologics has secured five new contracts this year totaling 3.35 trillion won ($2.58 billion), surpassing 60 percent of last year's full-year bookings of 5.4 trillion won. The company's cumulative order value since inception now stands at $18.7 billion. 'Despite macroeconomic uncertainties, our pipeline remains strong, and we maintain our full-year revenue guidance of 20–25 percent growth,' said Rim. 'We expect to see continued momentum as we deepen global partnerships and reinforce our role as a full-service biopharma enabler.' Meanwhile, Samsung Biologics is investing heavily in modality diversification to meet evolving customer needs. It recently launched a dedicated facility for ADCs, supporting full development and GMP production, with capabilities ranging from 2 milliliters to 500 liters. The company plans to introduce a dedicated ADC DP line by Q1 2027, completing an end-to-end solution within its Songdo site in Incheon. 'The more competitors there are, the more positive impact it has on patients, so we fully welcome competition. Of course, when it comes to winning contracts, we believe we possess the best internal competitiveness. We are confident that not only our infrastructure but also the strength of our workforce are our greatest assets.'
Yahoo
12-06-2025
- Business
- Yahoo
Optimove Announces Opening of APAC Operations; Appoints Jack Wheeler to Lead the Region
Wheeler brings over a decade of enterprise sales, SaaS innovation, and iGaming leadership experience New York, June 12, 2025 (GLOBE NEWSWIRE) -- Optimove, the leader in Positionless Marketing and the #1 player engagement platform in iGaming, today announced that after more than two years of activity in the Asia-Pacific, it has opened operations in the region. iGaming veteran, Jack Wheeler, has been appointed the Head of APAC. Wheeler brings more than ten years of experience in enterprise sales, SaaS innovation, and iGaming. He most recently served as Co-Founder and COO of PRLY, a community-based SaaS platform for the sports and iGaming sectors. His prior roles include leadership positions at Salesforce, where he helped drive APAC initiatives, as well as advisory roles with iGaming syndicates and equity positions in multiple Asia-based iGaming start-ups. 'Jack brings an exceptional mix of entrepreneurial drive, enterprise experience, and regional expertise to Optimove,' said Motti Colman, VP of Revenue at Optimove. 'His deep understanding of both the iGaming and sports industries, paired with his proven ability to scale partnerships in APAC, makes him the ideal leader for our expansion in this fast-growing market.' As Head of APAC, Wheeler will focus on growing Optimove's presence among iGaming operators across the region. 'This is a pivotal moment for iGaming in APAC,' said Wheeler. 'The fast growth across the region, particularly in the Philippines and Malaysia, presents a major opportunity for brands to scale smarter, faster, and more profitably. Optimove's experience in helping operators grow across the globe will be a boon to APAC operators as they map out their strategy. Optimove's Positionless Marketing approach, and the fact that it is the number one engagement platform in iGaming, makes this especially exciting to me.' Optimove's APAC expansion comes in response to rising global demand for unified marketing platforms that combine data, automation, and personalization at scale. By enabling marketers to independently launch personalized, real-time campaigns, Optimove is transforming how iGaming operators grow player relationships and lifetime value. A key offering for the region is Optimove's Ignite+ program. The comprehensive program is designed to accelerate growth for emerging iGaming and sports betting operators. It offers exclusive access to Optimove's #1 Player Engagement Platform, along with expert CRM guidance, actionable insights, and proprietary industry benchmarks. Optimove Ignite+ empowers operators to enhance player engagement, improve marketing efficiency, and scale efficiently in a highly competitive market. In addition to being the APAC Lead, Jack Wheeler is a Senior Account Executive at Optimove. About Optimove Optimove, the leader in Positionless Marketing, frees marketing teams from the limitations of fixed roles, giving every marketer the power to execute any marketing task instantly and independently. Positionless Marketing has been proven to improve campaign efficiency by 88%, allowing marketing teams to create more personalized engagement with existing customers. Recognized as the Visionary Leader in Gartner's 2024 Magic Quadrant for Multichannel Marketing Hubs. Being a visionary leader is a hallmark of Optimove. It was the first CRM Marketing Platform to natively embed AI with the ability to predict customer migrations between lifecycle stages in 2012. Today, its comprehensive AI-powered suite is at the leading edge of empowering marketers to optimize workflows from Insight to Creation and through Orchestration. Optimove provides industry-specific and use-case solutions for leading consumer brands globally. For more information, go to CONTACT: Rob Wyse Optimove +2129201470 Rob_w@ Olivia Arruda Optimove +8585881053 Olivia_a@ Mike Paluszek Optimove 9175539332 Mike_Pa@ produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información
Associated Press
12-06-2025
- Business
- Associated Press
Optimove Announces Opening of APAC Operations; Appoints Jack Wheeler to Lead the Region
New York, June 12, 2025 (GLOBE NEWSWIRE) -- Optimove, the leader in Positionless Marketing and the #1 player engagement platform in iGaming, today announced that after more than two years of activity in the Asia-Pacific, it has opened operations in the region. iGaming veteran, Jack Wheeler, has been appointed the Head of APAC. Wheeler brings more than ten years of experience in enterprise sales, SaaS innovation, and iGaming. He most recently served as Co-Founder and COO of PRLY, a community-based SaaS platform for the sports and iGaming sectors. His prior roles include leadership positions at Salesforce, where he helped drive APAC initiatives, as well as advisory roles with iGaming syndicates and equity positions in multiple Asia-based iGaming start-ups. 'Jack brings an exceptional mix of entrepreneurial drive, enterprise experience, and regional expertise to Optimove,' said Motti Colman, VP of Revenue at Optimove. 'His deep understanding of both the iGaming and sports industries, paired with his proven ability to scale partnerships in APAC, makes him the ideal leader for our expansion in this fast-growing market.' As Head of APAC, Wheeler will focus on growing Optimove's presence among iGaming operators across the region. 'This is a pivotal moment for iGaming in APAC,' said Wheeler. 'The fast growth across the region, particularly in the Philippines and Malaysia, presents a major opportunity for brands to scale smarter, faster, and more profitably. Optimove's experience in helping operators grow across the globe will be a boon to APAC operators as they map out their strategy. Optimove's Positionless Marketing approach, and the fact that it is the number one engagement platform in iGaming, makes this especially exciting to me.' Optimove's APAC expansion comes in response to rising global demand for unified marketing platforms that combine data, automation, and personalization at scale. By enabling marketers to independently launch personalized, real-time campaigns, Optimove is transforming how iGaming operators grow player relationships and lifetime value. A key offering for the region is Optimove's Ignite+ program. The comprehensive program is designed to accelerate growth for emerging iGaming and sports betting operators. It offers exclusive access to Optimove's #1 Player Engagement Platform, along with expert CRM guidance, actionable insights, and proprietary industry benchmarks. Optimove Ignite+ empowers operators to enhance player engagement, improve marketing efficiency, and scale efficiently in a highly competitive market. In addition to being the APAC Lead, Jack Wheeler is a Senior Account Executive at Optimove. About Optimove Optimove, the leader in Positionless Marketing, frees marketing teams from the limitations of fixed roles, giving every marketer the power to execute any marketing task instantly and independently. Positionless Marketing has been proven to improve campaign efficiency by 88%, allowing marketing teams to create more personalized engagement with existing customers. Recognized as the Visionary Leader in Gartner's 2024 Magic Quadrant for Multichannel Marketing Hubs. Being a visionary leader is a hallmark of Optimove. It was the first CRM Marketing Platform to natively embed AI with the ability to predict customer migrations between lifecycle stages in 2012. Today, its comprehensive AI-powered suite is at the leading edge of empowering marketers to optimize workflows from Insight to Creation and through Orchestration. Optimove provides industry-specific and use-case solutions for leading consumer brands globally. For more information, go to Rob Wyse Optimove +2129201470 [email protected] Olivia Arruda Optimove +8585881053 [email protected] Mike Paluszek Optimove 9175539332 [email protected]
Yahoo
12-06-2025
- Business
- Yahoo
Optimove Announces Opening of APAC Operations; Appoints Jack Wheeler to Lead the Region
Wheeler brings over a decade of enterprise sales, SaaS innovation, and iGaming leadership experience New York, June 12, 2025 (GLOBE NEWSWIRE) -- Optimove, the leader in Positionless Marketing and the #1 player engagement platform in iGaming, today announced that after more than two years of activity in the Asia-Pacific, it has opened operations in the region. iGaming veteran, Jack Wheeler, has been appointed the Head of APAC. Wheeler brings more than ten years of experience in enterprise sales, SaaS innovation, and iGaming. He most recently served as Co-Founder and COO of PRLY, a community-based SaaS platform for the sports and iGaming sectors. His prior roles include leadership positions at Salesforce, where he helped drive APAC initiatives, as well as advisory roles with iGaming syndicates and equity positions in multiple Asia-based iGaming start-ups. 'Jack brings an exceptional mix of entrepreneurial drive, enterprise experience, and regional expertise to Optimove,' said Motti Colman, VP of Revenue at Optimove. 'His deep understanding of both the iGaming and sports industries, paired with his proven ability to scale partnerships in APAC, makes him the ideal leader for our expansion in this fast-growing market.' As Head of APAC, Wheeler will focus on growing Optimove's presence among iGaming operators across the region. 'This is a pivotal moment for iGaming in APAC,' said Wheeler. 'The fast growth across the region, particularly in the Philippines and Malaysia, presents a major opportunity for brands to scale smarter, faster, and more profitably. Optimove's experience in helping operators grow across the globe will be a boon to APAC operators as they map out their strategy. Optimove's Positionless Marketing approach, and the fact that it is the number one engagement platform in iGaming, makes this especially exciting to me.' Optimove's APAC expansion comes in response to rising global demand for unified marketing platforms that combine data, automation, and personalization at scale. By enabling marketers to independently launch personalized, real-time campaigns, Optimove is transforming how iGaming operators grow player relationships and lifetime value. A key offering for the region is Optimove's Ignite+ program. The comprehensive program is designed to accelerate growth for emerging iGaming and sports betting operators. It offers exclusive access to Optimove's #1 Player Engagement Platform, along with expert CRM guidance, actionable insights, and proprietary industry benchmarks. Optimove Ignite+ empowers operators to enhance player engagement, improve marketing efficiency, and scale efficiently in a highly competitive market. In addition to being the APAC Lead, Jack Wheeler is a Senior Account Executive at Optimove. About Optimove Optimove, the leader in Positionless Marketing, frees marketing teams from the limitations of fixed roles, giving every marketer the power to execute any marketing task instantly and independently. Positionless Marketing has been proven to improve campaign efficiency by 88%, allowing marketing teams to create more personalized engagement with existing customers. Recognized as the Visionary Leader in Gartner's 2024 Magic Quadrant for Multichannel Marketing Hubs. Being a visionary leader is a hallmark of Optimove. It was the first CRM Marketing Platform to natively embed AI with the ability to predict customer migrations between lifecycle stages in 2012. Today, its comprehensive AI-powered suite is at the leading edge of empowering marketers to optimize workflows from Insight to Creation and through Orchestration. Optimove provides industry-specific and use-case solutions for leading consumer brands globally. For more information, go to CONTACT: Rob Wyse Optimove +2129201470 Rob_w@ Olivia Arruda Optimove +8585881053 Olivia_a@ Mike Paluszek Optimove 9175539332 Mike_Pa@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
