EUR/USD 1.14818
0.179%
Gold 4605.48
2.095%
Oil 98.586
-3.287%
USD/JPY 159.727
0.008%
GBP/USD 1.32138
0.231%
GBP/JPY 211.065
0.243%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On March 31, the yen fell to its lowest level since July 2024 on Monday, prompting Japans top foreign exchange official, Jun Mimura, to warn that authorities might take decisive action in the foreign exchange market if the current situation persists. This followed similar comments from Finance Minister Satsuki Katayama on March 27 when the exchange rate closed above 160. According to data from the CME Groups central restricted order book, the most actively traded May put options saw more than three times the volume of the most actively traded call options on Monday. Mukund Daga, global head of foreign exchange options at Barclays in London, said, "Hedge funds have shown some interest in USD/JPY options as a way to hedge against potential intervention that could lead to a sharp decline in the exchange rate." He noted that trading activity was concentrated in the short-term structure, "which suggests that the market is focused on near-term event risks rather than a broad directional shift."March 31 – The "Measures for the Exchange of Damaged and Defaced Renminbi" issued by the Peoples Bank of China officially came into effect today. These measures, for the first time, systematically clarify the criteria for defining damaged and defaced Renminbi, clearly delineate the boundaries between convertible and non-convertible banknotes, and further detail the exchange procedures. Exchange services will be handled free of charge by financial institutions designated by branches of the Peoples Bank of China.The main Shanghai silver futures contract rose by more than 5% intraday, currently trading at 18,469 yuan per kilogram.According to the National Bureau of Statistics, the composite PMI output index was 50.5% in March, up 1.0 percentage point from the previous month and above the critical point, indicating that the overall production and operation of Chinese enterprises is improving.The most active Shanghai silver futures contract surged 4% intraday, currently trading at 18,230 yuan/kg. The most active Shanghai gold futures contract rose over 2% intraday, currently trading at 1,025.84 yuan/gram.

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%.


Suggestion