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April 12 - Reports indicate that an Iranian delegation will hold a press conference in Islamabad, the capital of Pakistan, regarding the Iran-US negotiations.On April 12, Reserve Bank of New Zealand (RBNZ) Governor Anna Brehman stated that the RBNZ will soon announce measures to increase the transparency of its monetary policy decisions. Currently, the RBNZs Monetary Policy Committee determines the official cash rate either through consensus or by vote, but the individual members decision-making processes are not disclosed. When asked on Sunday whether she supported making the voting results public, Brehman said, "This is a decision made between the Monetary Policy Committee and the Minister for Finance. We have completed the relevant procedures and will announce any possible adjustments soon." Brehman joined the RBNZ from the Swedish Federal Reserve in early December. The RBNZ is considered one of the most transparent central banks globally. She now holds press conferences after each interest rate decision (instead of just quarterly), and from 2027 onwards, the Monetary Policy Committee will make eight interest rate decisions annually, up from the current seven.According to Irans Tasnim News Agency on the 12th, the time, place, and plan for the next round of negotiations between Iran and the United States have not yet been announced.With the US-Iran talks concluded, US Vice President Vance has left Pakistan, and the Iranian delegation will also depart on the 12th.April 12 – To promote the peaceful development of cross-strait relations and enhance the well-being of compatriots, the Taiwan Affairs Office of the CPC Central Committee, in consultation with relevant departments, has been authorized to issue the following policy measures: Explore the establishment of a regular communication mechanism between the Kuomintang (KMT) and the Communist Party of China (CPC). Establish a formalized platform for two-way exchanges between young people of the two parties. Promote water, electricity, gas, and bridge connections between coastal Fujian and Kinmen and Matsu, where conditions permit, to enhance the interests and well-being of the people of Kinmen and Matsu. Promote the full resumption of normalized direct cross-strait air passenger flights to further facilitate personnel exchanges between the two sides. Establish a communication mechanism on the basis of adhering to the "1992 Consensus" and opposing "Taiwan independence" to facilitate the import of Taiwanese agricultural and fishery products that meet inspection and quarantine standards into the mainland.

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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