📊 Samsung SDI: A Relay of U.S. ESS Orders and European Variables - 2026.10.27

Hi, it’s Goguma. Almost all of today’s Samsung SDI news is about ESS, so I’ll get straight to the key points. Samsung SDI announced on the 26th that it had signed a 1GWh ESS supply contract with U.S. energy specialist Alpha Omega Power (AOP) ^[1]. Sisang Today also reported that, combined with the first batch from late last year, the total comes to 1.5GWh ^[2]. We saw that figure in yesterday’s edition, so today I want to look at what comes next. 🔋

🍠 What else is there besides the contract?

The contract announcement came through Samsung SDI America (SDIA), its U.S. subsidiary ^[1]. One report also mentions an industry-estimated value of several hundred billion won, but since that figure comes from just one source, I’ll leave out the amount and say only that it’s a large-scale deal. We don’t want the whole picture to shift based on a single number. Prime Economy also reported that Samsung SDI is securing a succession of U.S. ESS orders by emphasizing its prismatic batteries ^[3]. The image is of orders passing along like a relay baton. But since that’s based on the article’s headline, how long this streak will last remains an open question. 🤔

Could Europe be the next stage?

The ESS Big Bang series said Europe is expected to become the largest ESS market after the U.S. ^[4]. The expectation that Europe’s share will grow over the medium to long term is the article’s forecast, not a plan confirmed by the company. Global Economic reported, in its analysis of third-quarter K-battery results, that ESS was a factor that separated the winners from the rest ^[5]. It described LG Energy Solution and Samsung SDI as “cruising” and SK On as “struggling.” The most interesting point here is that companies had different outcomes despite the shared focus on ESS. Still, this is the article’s interpretation of third-quarter results, so it’s hard to pin the causes on a single factor.

⚖️ Share price, industry classifications, and remaining variables

The stock table shows a closing price of ₩509,000 on October 27, with a change of +5.27%. The previous trading day’s close was ₩484,000. However, it’s difficult to directly link this move to the news above. Financial News reported that, on the same day, the Korea Exchange applied its KRICS index restructuring and classified Samsung SDI as industrials and SK as IT ^[6]. It’s worth keeping in mind that a change in industry classification could affect the indices tracking the stock and how investors view it.

Here’s how I’d sum up the four perspectives. I won’t force them into agreement. Onion, Peanut, Acorn, and Carrot each focus on different points, and I’ll leave those differences as they are. My personal take is that the bullish and bearish scenarios can coexist for now. The balance could shift depending on whether ESS expectations show up in actual figures and whether talk of Europe turns into orders.

The question I’m most curious about right now is whether this year’s shipment figures and European orders will actually materialize. Where do you put more weight? 🎯

📰 Reference News (6)

1

Samsung SDI Signs 1GWh ESS Supply Deal with U.S. Energy Company

네이버뉴스 · 2026.10.27

📰 View original

2

Samsung SDI Expands U.S. ESS Supply to 1.5GWh… Hanwha Qcells Receives Lab Safety Certification for Next-Generation Solar Cell Research [Industry Today] - Sisang Today (SisaON)

네이버뉴스 · 2026.10.27

📰 View original

4

ESS Boom in Europe After the U.S.… New Opportunities for LG and Samsung [ESS Big Bang ④]

네이버뉴스 · 2026.10.27

📰 View original