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Israeli military: We will have to take action against Hezbollah because it violated the ceasefire agreement.On June 13, the U.S. Court of Appeals for the District of Columbia Circuit rejected an appeal by the U.S. government and the Kennedy Center for the Performing Arts Board of Governors on June 12, upholding the previous ruling by a federal district court that the name of U.S. President Donald Trump must be removed from the Kennedy Center for the Performing Arts by the end of June 12, Eastern Time.On June 13th, it was reported that 11 departments, including the Ministry of Transport, the National Development and Reform Commission, and the Ministry of Industry and Information Technology, jointly released the "Implementation Plan for Promoting the Large-Scale Application of New Energy Heavy-Duty Trucks." The plan clearly states that by 2030, the penetration rate of new energy heavy-duty trucks will reach 40%, with a total fleet exceeding 1.6 million vehicles, accounting for approximately 20% of the total fleet. This move aims to accelerate the green and low-carbon transformation of the transportation sector. New energy heavy-duty trucks refer to heavy-duty freight vehicles with a total mass of 12 tons or more that adopt new power systems. The plan specifies that 30,000 kilometers of zero-carbon highway transportation corridors will be built along key national highways, and approximately 3,000 heavy-duty truck charging and battery swapping stations will be deployed simultaneously. The plan also aims to promote the electrification rate of fixed-route short-haul transportation in key air pollution control areas such as the Beijing-Tianjin-Hebei region and the Fenwei Plain to exceed 80%.According to Iranian media Fars News: The Iranian Foreign Minister has been accused of undermining Irans negotiating position by pandering to Trumps policies.On June 13th, it was reported that on June 11th, the Shenzhen Municipal Market Supervision Administration convened a citywide administrative guidance meeting on compliance for online transactions during the "6.18" shopping festival. Over 103 representatives from more than 60 platform companies, e-commerce enterprises, and industry associations, including WeChat Mini Programs, Meituan, JD.com, Pinduoduo, Taobao, and Douyin, attended the meeting. At the meeting, the Municipal Market Supervision Administration provided compliance guidance on five key areas: transparency, fair competition, subsidies and promotions, advertising and marketing, and food safety. The purpose of this compliance guidance meeting was to align with the requirements of the State Administration for Market Regulations new regulations, strengthen the main responsibility of businesses, enhance awareness of rational promotion and compliant operation during the "6.18" shopping festival, and create a healthy, orderly, and fair online consumption environment.

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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