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August 28th - Due to the US relocating Patriot air defense interceptors from Europe to the Middle East to counter Iranian drone and missile attacks, US and NATO forces in Europe are facing a shortage of Patriot interceptors. On the 27th, US defense officials stated that US forces in Europe "absolutely" do not have enough Patriot interceptors to defend against a potential sustained ballistic missile attack, and their ability to defend against a single ballistic missile attack is also "very limited." NATO officials also revealed that both US and NATO forces in Europe are facing a shortage of Patriot interceptors.On August 28th, a senior EU official stated on the 27th that European intelligence agencies had detected no signs of Russia planning an attack on NATO member states in Europe. This came after reports from the US that CIA Director Ratcliffe had warned Russia against attacking NATO members. Both Russia and US President Trump denied these reports on the 27th. According to an anonymous EU official, "Overall, European intelligence agencies see no risk of a Russian attack on European countries, and this assessment remains unchanged." The official further clarified that this assessment also applies to NATO member states in Europe, and no Russian attack preparations have been detected.On August 28th, at the 2026 China International Big Data Industry Expo, the National Supercomputing Internet officially joined the National Integrated Computing Power Network Monitoring and Scheduling Experimental Verification Platform at the invitation of the Department of Digital Technology and Infrastructure Construction of the National Data Administration. Relying on the integrated development model of "computing, data, analog, and application," the Supercomputing Internet is undertaking tasks such as "construction of the computing power scheduling platform, operation and monitoring integration, service operation system and ecosystem construction, and technical standard formulation" in the pilot work of computing power monitoring and scheduling.On August 28th, UBTECH Robotics Corp. (09880.HK) announced that its revenue for the first half of 2026 was RMB 1.269 billion, a year-on-year increase of 104.2%; the company incurred a loss of RMB 339 million during the period, compared to a loss of RMB 440 million in the same period of 2025; the adjusted net loss for the period was RMB 339 million, compared to a loss of RMB 368 million in the same period of 2025. Revenue from full-size embodied intelligent humanoid robot products and solutions reached RMB 590 million, a year-on-year increase of 1445.0%.August 28 – The 24th session of the Standing Committee of the 14th National Peoples Congress concluded at the Great Hall of the People in Beijing on the afternoon of August 28. The session adopted the Medical Security Law, the Farmland Protection and Quality Improvement Law, the newly revised Agricultural Law, the newly revised National Defense Mobilization Law, and a decision to amend the Lawyers Law; it also decided to remove Lu Zhiyuan from the post of Minister of Civil Affairs and appoint Li Changguan as Minister of Civil Affairs. President Xi Jinping signed Presidential Decrees No. 80, 81, 82, 83, 84, and 85 respectively. Chairman Zhao Leji presided over the closing session. The session also decided to remove Zhang Youxia from the post of Vice Chairman of the Central Military Commission of the Peoples Republic of China and Liu Zhenli from the post of Member of the Central Military Commission of the Peoples Republic of China.

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%.