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Huawei Terminal: The Huawei Pura series and all-scenario new product launch event will officially kick off at 14:30 today.According to Iranian media Mizan, Iran today executed two people accused of involvement in an "Israel-linked spy network."On April 20th, Yu Hao, founder of Dreame Technology, revealed that since its establishment in 2017, the company has achieved an average annual revenue growth of 100% for eight consecutive years while maintaining a high profit margin. Its products are sold to over 120 countries and regions worldwide, with a market share ranking number one in more than 30 markets.On April 20th, Hong Kong Trade Development Council (HKTDC) Chairman Frederick Ma stated on the 19th that, facing the ongoing tensions in the Middle East, Hong Kong should "turn crisis into opportunity," viewing the situation as an opportunity to attract global capital and talent to solidify its position as an international financial center. Simultaneously, the HKTDC officially launched the "Global Access" one-stop service, leveraging the resources of its 51 offices worldwide and utilizing Hong Kongs professional services in accounting, taxation, finance, and verification to fully support mainland enterprises in expanding into international markets. Ma pointed out that the national "15th Five-Year Plan" emphasizes innovation and technology, bringing significant opportunities to Hong Kong. He revealed that the HKTDC has already held 16 meetings on the "15th Five-Year Plan" in mainland China, inviting representatives from Hong Kong and mainland enterprises to discuss innovation, technology, and talent development. He reiterated that Hong Kong must effectively utilize and strengthen its role as a "super-connector" and "super-value-added agent" to consolidate its position as an international financial center.A Bank of Japan survey indicates that Japanese households expect the average inflation rate to be 10.3% five years from now, with a median of 5.0%.

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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