So how can a money converter help you? Well, if you are a trader then you should know that having up to date information as far as rates are concerned is absolutely essential. Since then, the rates might have changed, which means you are being misled about how much your currency is actually worth. Some websites have been put up and were only right as far as rates go at the time. There are literally hundreds of currency converters out there, but not all of them are linked to the official rates. Whatever your reason for using a money converter, you need to ensure that you use a reliable source. Maybe you need to find current currency rates so you can forecast the cost of a business transaction? Do you want to go on holiday and you need to see what your vacation money is really worth? Or maybe you just need to send some money to a friend who’s living in another country. You may be a currency trader who needs to know the actual, real-time value of a currency. There are a lot of reasons to use financial tools like a currency converter. In particular, the hit to the demand for low- and mid-end smartphones seems more severe," said Jene Park, Senior analyst at Counterpoint.Using a money converter to get the latest exchange rates! "This trend is the same for major global smartphone makers, although there is variance to some degree. Samsung shipped 74 million smartphones in the first quarter. Samsung's chip sales are made mainly in dollars, while it reports its profit in Korean won, so a firm greenback translates to higher chip earnings.Įstimated smartphone shipments by Samsung's mobile business in the second quarter were about 62-64 million, about 5%-8% lower than a March estimate, Counterpoint Research said, as inflation hit smartphone demand. read moreĪ strong dollar, which hit a 20-year high, may have also aided Samsung's chip profits in the second quarter. Making a case for strong server demand, Taiwanese contract electronics supplier and Apple iPhone maker Foxconn (2317.TW) on Monday raised its full-year outlook and said it was optimistic about the third quarter. tech firms such as Amazon (AMZN.O), Microsoft (MSFT.O), Alphabet's (GOOGL.O) Google and Meta (META.O) that use a lot of data centre services kept buying chips to meet cloud demand, they added. Samsung's profits have been shielded as large U.S. Rising inflation, concerns about a downturn in major markets, the war in Ukraine and China's COVID-19 lockdowns have resulted in slowing smartphone sales, leaving server chip demand as the only bright spot, analysts said. The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, March 23, 2018. Prices of NAND Flash chips, used for data storage, are also projected to fall as much as 5% in the July-September period from the previous quarter. Prices of specific DRAM chips, used in devices and servers, fell about 12% last month from a year ago, according to data provider TrendForce. "Memory chipmakers are expected to build inventory this year, keeping supply conservative, and hike shipments when prices rebound and demand recovers next year", said Park Sung-soon, an analyst at Cape Investment & Securities.
The strong quarter for Samsung comes at a time when other chipmakers have warned of a looming chip glut at customers who stocked up during the pandemic to meet higher demand from people working from home.Ĭhipmakers including Micron (MU.O) and Advanced Micro Devices (AMD.O) have also recently signalled waning demand as red-hot inflation squeezes spending. Revenue for the second quarter rose 21% to 77 trillion won, in line with market estimates. Samsung posted an operating profit of 14 trillion won ($10.7 billion), up 11% from 12.57 trillion won a year earlier, just shy of a 14.45 trillion won SmartEstimate from Refinitiv. Shares of other chipmakers, including rival SK Hynix (000660.KS) and the world's biggest foundry TSMC (2330.TW), also rose as analysts said tight supply of certain chips could help offset slower demand that is driving down memory chip prices.
Shares of the world's largest memory-chip and smartphone maker closed up 3.2% after preliminary results were announced, versus a 1.8% rise in the wider market (.KS11). SEOUL, July 7 (Reuters) - South Korea's Samsung Electronics Co Ltd (005930.KS) turned in its best April-June profit since 2018 on Thursday, underpinned by strong sales of memory chips to server customers even as demand from inflation-hit smartphone makers cools.
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