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Voyah Automobile: 15,146 vehicles were delivered in April 2026, a year-on-year increase of 51%.SAIC Motor Passenger Vehicle: From January to April 2026, the retail sales of Roewe and MG exceeded 302,000 units, a year-on-year increase of 5.8%; the retail sales in April exceeded 78,000 units, a year-on-year increase of over 15.5%.On May 1st, Indian Oil Corporation (IOC) announced it would maintain domestic jet fuel prices unchanged for May. This comes after several airlines warned of potential service disruptions due to supply shortages caused by the conflict in Iran. The Indian refiner, Indias largest, has set a benchmark for the industry, maintaining domestic jet fuel prices at 104,927 rupees per kiloliter (approximately US$1,105). However, according to its website, the company will be raising prices for international operators, though the specific amount was not disclosed. Global airlines are facing operational disruptions due to jet fuel shortages caused by the Middle East conflict. The aviation industry is highly sensitive to fuel price increases, with fuel costs accounting for up to 40% of operating expenses. Even small increases can significantly impact profitability and ticket prices.May 1st - According to a report from "Huizhou Housing and Construction" on April 30th, the Huizhou Municipal Housing and Urban-Rural Development Bureau, in conjunction with the Municipal Finance Bureau and the Municipal Human Resources and Social Security Bureau, recently issued a talent housing voucher subsidy policy. Eligible talents can directly apply for housing vouchers to offset the purchase price of newly built commercial housing in Huizhou, with a maximum subsidy of 100,000 yuan and a total policy amount of 100 million yuan, on a "first-come, first-served" basis.GAC Toyota: Platinum brand sold 14,664 vehicles in April.

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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