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Ukrainian President Zelenskyy has ordered the import of electricity and additional power equipment to be expedited as much as possible.On January 17, the worlds first legally binding international convention on the protection of biodiversity in the high seas—the Agreement on Marine Biodiversity—officially entered into force, marking a historic moment for global ocean conservation after nearly 20 years of negotiations. According to the Agreement, signatory states must strengthen cooperation in marine science and technology and support developing countries in improving their ocean governance capabilities. Companies planning activities that may harm marine ecosystems must conduct environmental impact assessments according to the Agreements standards. Marine biological research involving commercial development must be reported to the international community and its findings shared. As of the day before the agreements entry into force, 83 countries had completed the ratification process, including major maritime powers such as China. The United States, while having signed the agreement, has not yet ratified it and therefore can only participate in subsequent meetings as an observer, without voting rights.Irans Supreme Leader Ayatollah Khamenei: Those with ties to Israel and the United States caused massive destruction and resulted in the deaths of thousands during the protests.On January 17, Iranian Supreme Leader Ayatollah Khamenei met with thousands of people from various sectors of society in Tehran and addressed the nation on the recent situation. Khamenei stated that because US President Trump has caused casualties and losses in Iran and slandered the Iranian people, "we consider him a criminal." Khamenei elaborated on the nature of the recent unrest and Irans responsibility in dealing with the situation, emphasizing the need to clearly understand the true intentions of hostile forces and to adopt the correct stance in response.January 17th - On January 17th, Carrot Express and UAE-based autonomous mobility company AutoGo announced the official launch of fully driverless commercial operations for the public in Abu Dhabi. Starting immediately, local residents and tourists can hail Carrot Expresss fully driverless vehicles through the AutoGo App. This marks Carrot Expresss first overseas launch of a fully driverless mobility service for the public, signifying a crucial step forward in the commercialization and internationalization of Chinese autonomous driving technology.

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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