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On January 25th, an international group of plaintiffs filed a lawsuit against Meta Platforms (META.O), accusing the company of making false claims regarding the privacy and security of its WhatsApp chat service. Meta touts its so-called "end-to-end" encryption as a core feature of WhatsApp, meaning that only the sender and receiver can read messages, and the company itself cannot access them. The company claims this encryption is enabled by default, and in-app messages show that only people in the current chat can read, listen to, or share messages. The plaintiff group filed the lawsuit on Friday in the U.S. District Court for the Southern District of California in San Francisco, accusing Meta of making false privacy claims. They claim that Meta and WhatsApp store, analyze, and have access to virtually all of WhatsApp users supposedly private communications, and accuse the company and its executives of defrauding billions of WhatsApp users worldwide. Meta spokesperson Andy Stone stated in an email that the lawsuit is baseless and that the company will seek sanctions against the plaintiffs lawyers.January 25th - Xiaomi founder, chairman, and CEO Lei Jun posted that the new generation SU7 Capri Blue is very beautiful in person, and they are striving to have some demo cars in dealerships before the Spring Festival, so everyone can experience it firsthand. Small orders have already begun.January 25th - At 10:29 AM on January 25th, the last regular-speed train departed from Guangzhou Railway Station. This marked the official end of regular-speed train service at the century-old station, ushering in a new era of high-speed rail.1. Hungarian Prime Minister: Hungary will not allow other countries to allocate funds to Ukraine through the EU. 2. Ukrainian Air Force: Russia attacked Ukraine with 375 drones and 21 missiles. 3. According to RIA Novosti: Russian troops have taken control of Staritsa in the Kharkiv region of Ukraine. 4. Mayor of Kyiv: Following the Russian attack, heating has been cut off in nearly 6,000 buildings in the Ukrainian capital. 5. According to Interfax: Russia launched a large-scale attack last night on Ukrainian long-range drone bases and energy facilities. 6. Ukrainian Deputy Prime Minister: The Russian attack has caused power outages for at least 1.2 million users in Ukraine, including more than 800,000 in Kyiv. 7. Ukrainian official: The meeting on the Ukraine issue held in Abu Dhabi did make some progress. Another round of talks will be held in Abu Dhabi next week. 8. Ukrainian Foreign Minister stated that Russian President Putin coldly ordered a large-scale missile attack on Ukraine during a meeting with the Abu Dhabi delegation. 9. Ukrainian President Zelensky: Russias attack on energy facilities proves that the supply of air defense materials must not be delayed and that the air defense agreement reached with US President Trump in Davos must be fully implemented.January 25th – The Fourth Session of the 16th Beijing Municipal Peoples Congress opened at the Beijing Conference Center on the morning of January 25th. Mayor Yin Yong delivered the government work report. The report proposed vigorously developing high-tech industries. It called for consolidating and strengthening the foundation of the real economy, promoting the expansion of key integrated circuit projects, constructing a high-level international pharmaceutical innovation park, and advancing key projects across the entire ecosystem, including green advanced energy, new energy vehicles, robotics, and commercial aerospace. It also emphasized accelerating the construction of a global digital economy benchmark city, fully implementing the "Artificial Intelligence+" action plan, and building a national artificial intelligence application pilot base. Furthermore, it stressed promoting the construction of a future industry pilot zone and cultivating new growth points such as 6G, quantum technology, and biomanufacturing. Finally, it called for promoting the upgrading of traditional industries and facilitating the digital transformation of the manufacturing industry.

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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