The authors are analysts of Shinhan Investment Corp. They can be reached at doyeon@shinhan.com and hyon@shinhan.com, respectively. – Ed. 3Q22 operating profit estimated at KRW11.3tr (-19.9% QoQ)Samsung Electronics is expected to have posted operating profit of KRW11.3tr (-19.9% QoQ) on sales of KRW7
The focus of the global semiconductor industry is shifting from the memory chip segment towards non-memory, which is becoming increasingly important as Industry 4.0 develops. Experts point out that South Korea is still too dependent on the memory chip segment.According to market research firm IC Ins
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com. -- Ed. Affected by less data center investment and reduced demand for IT sets, 3Q22 DRAM ASP is likely to fall 17% q-q. We forecast SEC’s 3Q22 OP at W11.80tn (-16% q-q). Adjustments to planned 2023 new capac
Samsung Electronics surpassed Intel in semiconductor sales in the second quarter of 2022, retaining the top spot in the global semiconductor market for the fourth quarter in a row. However, as the memory semiconductor market is shrinking, the Korean semiconductor giant may lose its leading position
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Cut target price to KRW120,000 We cut our TP on SK hynix from KRW125,000 to KRW120,000 (12m fwd BVPS x 1.20x P/B), as 2022E/2023E earnings were significantly revised down to reflect lowered bit growth projectio
Solidigm, a NAND flash subsidiary of SK Hynix, will invest more than US$100 million to establish a semiconductor R&D center in Sacramento, California.Solidigm announced on its website on Sept. 14 (local time) that it has selected Rancho Cordovs as the site for a global R&D campus after a thorough si
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain BUY, target price of KRW75,000 We maintain BUY and 12m TP of KRW75,000 on SEC. We see 2H22 OP coming in at KRW23.2tn (-18% HoH, -22% YoY) and missing the market consensus by 10%, as all divisions excl.
Samsung Electronics announced on Sept. 7 that it has started operating Line 3 of its Pyeongtaek Campus, the world’s largest semiconductor production facility located in Gyeonggi Province.The company completed a NAND flash mass production facility in Pyeongtaek Line 3 in July and started to put wafer
SK Hynix will build a new semiconductor production plant, dubbed M15X, in Cheongju, North Chungcheong Province, by investing over 15 trillion won.The company announced on Sept. 6 that it has decided to start construction of M15X, an expansion fab of the M15 NAND flash production line ahead of schedu
Apple has reportedly added China's YTMC to its list of NAND flash suppliers for the iPhone 14, which is to be unveiled on Sept. 7.Apple has thus far received NAND flashes from Samsung Electronics, SK Hynix and Kioxia. For DRAMs, it has relied on Samsung Electronics and SK Hynix. Apple is highly
Korean chipmakers' share of the global NAND flash market topped 50 percent in the second quarter of 2022. Global NAND flash sales in the second quarter hit US$18.12 billion, up 1.1 percent from the previous quarter, according to TrendForce, a Taiwanese market research company. During the second
SK Hynix is accelerating the development of a next-generation standard for 4D NAND flashes by mass-producing 238-layer products, the world's highest layers.The company introduced its 4D 2.0 technology at Flash Memory Summit 2022 (FMS 2022), which was held at the Santa Clara Convention Center i
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com. -- Ed. We expect DRAM ASP to drop 19% in 3Q22 on reduced data center investment and decreased IT set demand. Positives in play include capacity investment adjustments and improved parts inventory for set bui
South Korean semiconductor companies’ concerns are growing after the passage of the CHIPS and Science Act of 2022. The act is to provide US$39 billion and a 25 percent tax credit for companies building semiconductor facilities in the United States, and provide US$11 billion for those doing semicondu
The authors are analysts of Shinhan Investment Corp. They can be reached at doyeon@shinhan.com and hyon@shinhan.com, respectively. – Ed. Memory market upturn to hinge on: 1) inventory depletion at client companies; 2) improvement in macro conditionsShare prices of memory chipmakers typically turn to
Samsung Electronics is expected to release a 236-layer NAND flash product within this year. In addition, it is planning to open a new R&D center this month and the center will be in charge of developing more advanced NAND flash products.Memory chip makers are competing to increase their layer counts
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com. -- Ed. Korea’s participation in the US-led Chip 4 is highly likely to negatively impact the share prices of leading Korean semiconductor firms, regardless of whether or not it is successful. The beneficiarie
Qualcomm signed a US$4.2 billion contract with GlobalFoundries on Aug. 8 to increase its chip purchase. The size of their contracts increased to US$7.4 billion and the additional contract is for GlobalFoundries to produce in New York chips designed by Qualcomm for 5G transceiver, Wi-Fi, automotive a
Samsung Electronics unveiled an array of next-generation memory and storage technologies during Flash Memory Summit 2022, held at the Santa Clara (California) Convention Center, Aug. 2-4.In a keynote titled “Memory Innovations Navigating the Big Data Era,” the company spotlighted four areas of techn
Attention is focusing on how U.S. House Speaker Nancy Pelosi’s visit to Taiwan will affect Samsung Electronics and SK Hynix, which are doing large-scale business in China.Pelosi met with TSMC chairman Mark Liu on Aug. 3 to discuss the CHIPS and Science Act and Taiwan’s investment in the U.S. semicon