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On April 27, local time, Russian Presidents Press Secretary Peskov said in an interview broadcast by Russian media that many of US President Trumps views on the Ukrainian conflict are basically consistent with Russias position. Peskov said that the work of resolving the Ukrainian issue is still in progress, but it cannot be done in an open way.On April 27, the spokesperson of the State Administration for Market Regulation answered questions from reporters about the Cheung Kong Ports transaction. A reporter asked: According to the Wall Street Journal report on April 16, Cheung Kongs sale of overseas ports will be split into two transactions to continue. What is the comment of the State Administration for Market Regulation? Answer: We pay close attention to the relevant transactions and will review them in accordance with the law. The parties to the transaction shall not circumvent the review in any way, and shall not implement the concentration before approval, otherwise they will bear legal responsibility.On April 27, the Russian Ministry of Defense reported that from 23:00 on April 26 to 4:00 a.m. on April 27, Moscow time, the Russian air defense system shot down and intercepted 5 Ukrainian drones in Bryansk Oblast. On the morning of the 27th, two more Ukrainian drones were shot down in the Crimea region. The Ukrainian Air Force reported on the 27th that from 21:00 on April 26 to the early morning of April 27, local time, the Russian army launched a total of 149 drones at Ukraine. As of 9:00 a.m. on April 27, local time, the Ukrainian army confirmed that 57 drones had been shot down.The Vancouver police in Canada said that they believe this incident was not an act of terrorism. Earlier, someone drove a car into a crowd in Vancouver, Canada, causing many deaths and injuries.According to RIA Novosti: Russian military commanders told Russian President Vladimir Putin that the remnants of Ukrainian troops scattered in Russias Kursk region will soon be eliminated.

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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