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Swiss National Bank Governing Council Member Tschudin: The Swiss National Bank only focuses on inflation, not exports.The euro areas PPI annual rate in February was 3%, in line with expectations and up from 1.80% in the previous month.The euro areas PPI monthly rate in February was 0.2%, in line with expectations of 0.1% and the previous value of 0.80%.Swiss National Bank Governing Council Member Tschudin: A potential depreciation of the US dollar would be unfortunate, but foreign exchange reserves are not used for profit.Swiss National Bank Governing Council Member Tschudin: It is very difficult to transform global currencies from the US dollar to other currencies. The Swiss National Banks reserves are well diversified.

Samsung Elec expects mobile and PC chip demand to decrease in the second quarter

Aria Thomas

Jul 28, 2022 11:15

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Due to robust sales of server memory chips, Samsung Electronics Co., Ltd. reported a 12 percent increase in quarterly earnings on Thursday. As macroeconomic uncertainty lingers, the business forecasts that demand for mobile and PC processors will continue to fall.


According to the world's largest manufacturer of memory chips for cell phones, operating profit increased to 14.1 trillion won ($10.8 billion) for the quarter ending June 30, up from 12.57 trillion won a year ago. This is the company's best profit for any quarter since 2014, and its highest profit for the second quarter since 2018.


In addition, the company's earnings exceeded its own projections of 14 trillion won.


The rise in revenue was 21%, amounting to 77,2 trillion won.


A strong dollar, which reached a 20-year high, also aided chip earnings, increasing Samsung (KS:005930 operational profit )'s by around 1.3 trillion won from the previous quarter.


The majority of Samsung's chip sales are handled in U.S. dollars, but the business reports profitability in Korean won; hence, a strong U.S. dollar boosts earnings from semiconductors.


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