Samsung Elec sees profit decline on weak server chip demand after strong third-quarter earnings

-
By Joyce Lee and Hyunjoo Jin
SEOUL (Reuters) - Samsung Electronics Co Ltd <005930.KS> said on Thursday it expects fourth-quarter profit to fall due to weak server chip demand and rising smartphone competition, after posting its best quarterly operating profit in two years in the third quarter.
The world's top maker of smartphones and memory chips flagged a recovery in the mobile and chip markets next year although it was wary of disruption from the coronavirus pandemic and U.S.-China trade tensions in the short-term.
"Global demand is forecast to increase year on year, but uncertainties are unlikely to ease given the possibility of additional waves of the pandemic," Ben Suh, Samsung's executive vice president of investor relations, said in an earnings call.
Samsung said mobile chip demand would rise in the fourth quarter, ...


Read More on Datafloq

Comments

Post a Comment

Popular posts from this blog

Underwater Autonomous Vehicles Helping Navy Get More for the Money 

-
Image
By AI Trends Staff     As the  US Navy  strives to get to a 355-ship fleet by 2034, part of a 30-year plan the Navy outlined in 2019, it is finding it economical to use underwater autonomous vehicles. They meet many of the requirements of larger submarines at a fraction of the cost.     For example, the Navy awarded Boeing a $43-million contract to build four Orca Extra Large Unmanned Undersea Vehicles (XLUUVs) last year, described in a release from  USNI News .      Boeing based its winning Orca XLUUV design on its Echo Voyager unmanned diesel-electric submersible. The 51-foot-long submersible is launched from a pier and can operate autonomously while sailing up to 6,500 nautical miles without being connected to a manned mother ship, according to the Navy.   In military spending terms, the versatility of the Orca at the price is “fairly unheard of in military spending,” according to an account in  The National Interest . The nearest equivalent was cited as the Navy’s Littoral Com
Read more

Canada regulator seeks information from public on Rogers-Shaw deal

-
(Reuters) - A Canadian regulator on Tuesday asked for information from the public on telecom company Rogers Communications Inc's planned C$20 billion ($16 billion) purchase of Shaw Communications Inc to check for competition concerns. The deal announced in March to create Canada's second-largest cellular and cable operator has attracted regulatory scrutiny. The Competition Bureau said in August it obtained court orders to advance its review. The regulator on Tuesday asked market participants and Canadians to come forth with information that could assist the regulator's probe on whether the deal will reduce or prevent competition. The Competition Bureau said its review was ongoing and no conclusions have been made. ... Read More on Datafloq
Read more