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April 9th – This afternoon (April 9th), the Ministry of Commerce held a regular press conference to introduce recent key work in the commercial field. The spokesperson stated that China and the EU are important economic and trade partners. For many years, China-EU economic and trade cooperation has had a solid foundation, ample growth momentum, and deeply integrated production and supply chains, forming a virtuous cycle of complementary advantages and mutual benefit. China has always maintained an open attitude towards negotiating bilateral economic and trade arrangements with the EU and welcomes relevant proposals from European leaders. However, in recent years, the EU has used various economic and trade tools to investigate and restrict Chinese companies. China hopes that the EU will listen more to the voices of its member states and European industry, abandon protectionist practices, and work with China to replace building walls with open cooperation, properly handle frictions and differences through dialogue and consultation, and jointly promote the healthy and positive development of China-EU economic and trade relations.April 9 – Foreign Ministry Spokesperson Mao Ning held a regular press conference on April 9. An AFP reporter asked, “Foreign Minister Wang Yi will be visiting North Korea. Could the spokesperson provide further details on the topics he will discuss? Will he raise the issue of resuming Chinese tourism to North Korea?” Mao Ning replied, “Yesterday I introduced the relevant arrangements for Foreign Minister Wang Yi’s visit to North Korea. We will release further information in a timely manner if there are any updates. You can stay tuned. I believe both sides will discuss issues of common concern.”On April 9, Foreign Ministry Spokesperson Mao Ning held a regular press conference. An AFP reporter asked, "The White House stated yesterday that the United States held high-level talks with China over the past few days regarding the Iran war. Can the spokesperson confirm that the talks did take place, and what specific topics were discussed?" The reporter also asked, "Regarding Lebanon, does China believe that Lebanon should also be included in the ceasefire agreement that has been reached?" Mao Ning responded to the reporters first question, "Since the outbreak of the conflict, China has maintained communication with all parties and actively promoted peace and prevented further fighting." Regarding the second question, Mao Ning stated, "We have just explained our position on the situation in Lebanon. We hope that all parties can take the temporary ceasefire arrangement as an opportunity to resolve disputes and end the fighting through political and diplomatic means."April 9th - In the first quarter of 2026, the national railway system transported a total of 1.133 billion passengers, a year-on-year increase of 5.5%; the average daily number of passenger trains operated by the national railway system in the first quarter was 12,072, a year-on-year increase of 7.1%.Italian Prime Minister Meloni: The current government will last for five years.

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%.