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January 25th - Following the reciprocal visits by the leaders of China and South Korea, bilateral relations have further improved. Coupled with Chinas extension of its visa-free policy for South Koreans, demand for travel to China from South Koreans has surged. According to Yonhap News Agency on the 25th, the South Korean travel industry is intensifying its marketing efforts to seize market opportunities. One South Korean travel agency stated that from January 5th to 21st, the number of people booking travel products to China reached 7,351, a significant increase of 87.8% year-on-year. The report also stated that many South Korean travel agencies are comprehensively adjusting and expanding their travel products, refining their offerings for different age groups and consumer demographics, and launching various targeted travel packages.Russian Deputy Foreign Minister: There has been no progress in dialogue with the United States on issues such as diplomatic property.The China Earthquake Networks Center officially determined that a magnitude 2.4 earthquake occurred at 18:18 on January 25 in Leting County, Tangshan City, Hebei Province (39.28 degrees north latitude, 118.86 degrees east longitude), with a focal depth of 15 kilometers.Kremlin: Trumps actions are inconsistent with Russias policy of building a multipolar world.January 25th - According to South African media reports on the 23rd, the World Economic Forum Africa Summit will resume after a seven-year hiatus and will be held in South Africa in April 2027. Chido Muniati, Head of Africa at the World Economic Forum, stated during the World Economic Forum Annual Meeting 2026 in Davos, Switzerland, that the summit will resume in 2027, with Johannesburg or Cape Town, South Africa, expected to be the host city.

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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