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The White House: Trumps fiscal year 2027 budget seeks $1.5 trillion in defense spending.The Ukrainian Air Force reported that Russia has launched 542 drones and 37 missiles since Thursday evening.April 3 - Iranian media reports indicate that a US pilot may have been captured by Iranian forces. A reporter from Irans Tasnim News Agency, based in Kogyroye-Boway Ahmed province, reported that, according to some information, the pilot ejected and landed in Iran early this morning after the Revolutionary Guard destroyed an advanced US fighter jet. There has been no official announcement from the Iranian military. Furthermore, reports suggest that the US believes the pilot is still alive and has attempted to rescue him from Iranian territory.On April 3, the Department of Foreign Investment Administration of the Ministry of Commerce issued a statement regarding a recent complaint on the Ministrys website alleging that an app called "Invest in China" was falsely claiming to be "sponsored by the Ministry of Commerce" and was enticing users to subscribe to funds on related platforms, posing a significant risk. The Ministry of Commerce hereby responds as follows: Upon verification, the Ministry of Commerce and its subordinate agencies have never organized, participated in, or operated any app application bearing the name "Invest in China," nor have they organized any subscription activities under the name "Invest in China." The public is urged to be vigilant and avoid being deceived and suffering financial losses. The Ministry of Commerce has also notified relevant departments to handle the matter.April 3rd - It was learned today that the State Administration for Market Regulation recently conducted random inspections of 2,235 batches of food safety samples, finding 44 batches to be substandard. Relevant provincial market supervision departments have organized investigations and taken appropriate action regarding the substandard food products discovered during the inspections.

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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