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On September 14th, according to Qichacha APP, Wuxi Gongwang Sensing Technology Co., Ltd. recently underwent industrial and commercial registration changes, adding Hefei NIO Industrial Development Equity Investment Partnership (Limited Partnership), an affiliate of NIO Capital, as a shareholder, and increasing its registered capital to 3.7784 million yuan. Public information shows that the company is a developer of inductive sensors.On September 14th, tech media outlet Macobserver published a blog post yesterday (September 13th) reporting that Apple disclosed six proprietary application programming interfaces (APIs) during its technical explanation of the iPhone Duo, the most noteworthy being support for dual app functionality. In the explanation, Apple introduced at least six iPhone Duo-specific APIs, including UIWindowSceneActivation, which allows applications to request a second window. Apple stated that the iPhone Duo is its first model to natively support dual app functionality, but the new window can only be opened on the inner screen, not the outer screen. Publicly available information shows that iOS currently does not natively support "dual app functionality/app cloning," for example, its not possible to natively install two separate WeChat accounts on the same iPhone and log in to them separately. According to Apples technical explanation, on the iPhone Duo, users should be able to open two WeChat applications simultaneously and run different accounts independently. However, this is currently only theoretically supported, and further testing is needed to verify this.September 14th - Some investors are snapping up New Zealand bonds, betting that weak economic growth will keep the Reserve Bank of New Zealand (RBNZ) cautious about raising interest rates and extend the bonds outperformance relative to its global peers. Asset management firm Insight Investment favors shorter-term bonds, believing the market has overpriced RBNZ rate hikes. Harbour Asset Management stated that the countrys bonds also benefit from a steep yield curve and relatively restrained government spending compared to its G10 peers. These bullish bets come after New Zealand bond yields jumped to multi-year highs last Friday due to surging oil prices fueling expectations of an October rate hike. Prior to the recent oil price rally, RBNZ officials had hinted at a slower pace of rate hikes, citing an uneven and fragile economic recovery from recession. Traders are currently pricing in four more rate hikes by August next year, in addition to the RBNZs two hikes this year.Market news: The Bank of Japan offered spot government bond lending operations in the morning session.September 14th - According to the New York Times, two sources familiar with the matter revealed that the Trump administration plans to announce on Monday that the United States will no longer restrict emissions of global warming pollutants from coal-fired and gas-fired power plants during power generation. It is understood that Environmental Protection Agency Administrator Lee Zeldin is expected to announce this policy change during the G20 energy ministers meeting in Houston. The Trump administration has been trying to make the production and use of fossil fuels easier and cheaper, particularly hoping to utilize fossil fuel power generation to meet the growing electricity demand of artificial intelligence data centers.

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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