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April 15 - Preliminary statistics released by the Japan National Tourism Organization on the 15th show that in March this year, the number of Chinese tourists visiting Japan dropped sharply by 55.9% year-on-year, to only 291,000.April 15 – A senior official from Japans Ministry of Economy, Trade and Industry said on Wednesday that Japan plans to release approximately 36 million barrels of national oil reserves starting in early May, with contracts with refineries expected to be finalized by the end of April. Japanese Prime Minister Sanae Takaichi stated last week that Japan plans to utilize 20 days worth of oil reserves starting in May to ensure stable domestic supplies. Simultaneously, Japan is also seeking oil resources outside the Middle East, as the ongoing war between the United States, Israel, and Iran disrupts global energy transport. Japan began unilaterally releasing oil reserves on March 16, coordinating with other countries to prepare enough reserves for 50 days; the 20-day release is an increase on that. Japans daily oil demand is approximately 1.8 million barrels.According to Reuters, sources say Japan will release 36 million barrels of oil from its reserves, with details to be finalized by the end of April.Musk: AI5 will be one of the most produced artificial intelligence chips in history.April 15th - It was learned from China Railway Shanghai Bureau Group Co., Ltd. that the 2026 May Day holiday transportation plan for the Yangtze River Delta Railway has recently been released. The holiday transportation period will run from April 29th to May 6th, a total of 8 days. During this period, the Yangtze River Delta Railway is expected to transport 31.8 million passengers, with an average daily passenger volume of 3.975 million, representing a 5% year-on-year increase and setting a new record for daily passenger volume during the May Day holiday.

Samsung Elec announces a higher Q2 profit owing to solid server-chip demand

Charlie Brooks

Jul 07, 2022 11:18


Samsung Electronics (OTC:SSNLF) Co Ltd announced its greatest April-through-June profit since 2018 with an 11 percent year-over-year gain, as demand for its memory chips from server customers more than offset decreased sales to smartphone manufacturers due to inflation.


The world's leading memory chip and smartphone manufacturer stated Thursday that its second-quarter operating profit grew to 14 trillion won ($10.73 billion) from 12.57 trillion won a year earlier.


It was quite close to Refinitiv's SmartEstimate of 14,45 trillion won.


In agreement with market estimates, Samsung (KS:005930) announced in a short earnings report that sales likely climbed by 21 percent year-over-year to 77 trillion won.


This month, Samsung will provide detailed financial results.


Large U.S. IT companies that rely heavily on data center services continued to acquire chips to meet cloud demand, insulating Samsung's chip revenue from a potential client oversupply after two years of high demand.


According to the data source TrendForce, the price of some DRAM chips, which are utilized in electronic devices and servers, decreased by around 12 percent last month compared to the same time period one year prior. As demand for smartphones and laptops decreases, analysts believe that prices will continue to fall.


"Server DRAM is currently the only feasible sales channel... As a result, Korean manufacturers were the first to signal a willingness to contemplate a quarterly price cut of more than 5 percent (for server goods) "DRAMS," according to TrendForce.


According to TrendForce, the costs of NAND Flash chips, which are used in electronic devices for data storage, are projected to decline by as much as 5 percent between July and September compared to the previous quarter.


Following two profitable pandemic years in which customers purchased devices for remote work, chipmakers throughout the globe are observing a fall in demand.


According to analysts, rising prices, worries of a dramatic market collapse, the Ukraine war, and China's COVID-19 lockdowns have hampered smartphone sales, leaving server chip demand as the only bright light.


During morning trade, the price of Samsung's stock jumped by 0.9%.


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