SEOUL (Reuters) -Samsung Electronics flagged a continued recovery in memory chips and tech demand in 2024, after reporting a 34% on-year drop in fourth-quarter profit despite a memory price rebound, as consumer demand remained weak in many businesses. The world's biggest maker of memory chips said it expected mobile and PC makers to place more and better chips in devices as use of artificial intelligence expands, while the need to replace older servers would also aid a gradual recovery in demand. "In 2024, the memory business expects the market to continue to recover despite various potential obstacles, including interest rate policies and geopolitical issues," Samsung said in a statement.
TOKYO (Reuters) -Japanese automotive supplier Denso will invest about 500 billion yen ($3.3 billion) in semiconductors by 2030 as aims to triple the scale of its chips business by 2035 from current levels, the company's president said on Thursday. Denso, a Toyota group supplier and one of the world's largest makers of auto parts and components, has been ramping up its chip business in recent years, including by forging partnership deals to help it secure more semiconductors. Last year it said it
SEOUL (Reuters) -Samsung Electronics on Wednesday said its preliminary third-quarter profit dropped by a smaller-than-expected 78%, as the battered memory chip market shows early signs of recovering from a severe downturn. Samsung shares opened 3.3% higher versus a 1.4% rise in the wider market, as analysts said memory chip prices likely bottomed in the third quarter, with some types starting to rebound. The world's largest memory chip and smartphone maker estimated its operating profit fell to 2.4 trillion won ($1.79 billion) in July-September, from 10.85 trillion won a year earlier in a short preliminary earnings statement.
(Bloomberg) Intel Corp. shares gained after the chipmaker gave a bullish revenue forecast for the current period, indicating that demand for computer components is improving and a long-awaited comeback may be underway.Most Read from BloombergSubway Offers Free Sandwiches That Come With a Lifetime CommitmentLargest US Grid Declares Emergency Alert For July 27US 10-Year Yield Hits 4% as BOJ Worry Lifts Yen: Markets WrapFed Raises Interest Rates to 22-Year High, Leaves Door Open for MoreUS Growt
there were too few. now, it seems, there are too many. we try to understand what s going on in the chip business. plus, we ve seen sellout stadiums and lots of viewers for the fifa women s world cup, but can it translate into lasting returns? we start in greece, where wildfires have swept across the island of rhodes. some holidaymakers have abandoned their belongings and moved to makeshift shelters. airlines and holiday companies are scrambling to bring some of those affected home, while some flights to the island from the uk have been cancelled. up to 10,000 british tourists are there, with many more booked to travel in the coming weeks. and today, europe is set for another record heatwave across the continent, prompting travel alerts