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February 24th - The Russia-Ukraine conflict has entered its fifth year, and the trilateral peace talks between Ukraine, Russia, and the United States have yet to achieve a breakthrough. Zelenskyy stated that security guarantees remain a thorny issue. Zelenskyy said he has been repeatedly told that Russia will never launch another conflict. "I cannot accept this answer. Im sorry," he said. "These security guarantees certainly have their merits," he said, referring to the commitments currently on the table, "but I want a very concrete answer: if Putin attacks again, what actions are our partners prepared to take? Thats what the Ukrainian people want to hear." Addressing another thorny issue, Zelenskyy stated that Ukraine is willing to freeze the conflict at the current front. However, he also indicated that Ukrainian troops will not withdraw from the eastern Donetsk region, which they still control. "Russia just wants us to withdraw... We cant be that stupid. We are not children. We have gone through so many years of conflict; we cannot simply hand over our country to them," he said.February 24th - Tencent Wealth Managements current account + 7-day annualized yield ranges from a high of 1.1850% to a low of 0.8410%, WeChat Pays 7-day annualized yield ranges from a high of 1.0930% to a low of 1.0220%, and Alipays Yuebaos 7-day annualized yield ranges from a high of 1.0990% to a low of 1.0040%.On February 24th, Ukrainian President Volodymyr Zelenskyy appealed to US President Donald Trump, urging the president to "stand on our side." Speaking at the presidential palace in Kyiv on the eve of the fourth anniversary of the Russia-Ukraine conflict, Zelenskyy stated that the United States, being a large and influential nation, cannot ignore the conflict. He hoped Trump would express support for Ukraine against Putins Russia in his State of the Union address on Tuesday. "They must stand on...the side of democracy. Because this man is a war. Putin is a war. Everything is for himself. Everything is for him alone. And his country, his entire country, is in trouble," Zelenskyy said. "If they really want to stop Putin, the United States is very powerful," he said. When asked if he believed Trump had put enough pressure on Putin, Zelenskyy replied, "No."Hong Kong-listed robotics concept stocks declined in the short term, with WoAn Robotics (06600.HK) falling more than 12%, Yuejiang (02432.HK) falling more than 10%, SenseTime (00020.HK) falling 6.5%, and UBTECH (09880.HK) falling more than 5%.Hong Kong-listed stocks related to new consumption concepts declined, with Laopu Gold (06181.HK) falling more than 6%, Pop Mart (09992.HK) and Mao Geping (01318.HK) falling more than 5%, Gu Ming (01364.HK) falling more than 4%, and Mixue Group (02097.HK) falling more than 3%.

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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