Samsung warns chip demand for phones, PCs to weaken as people shop less

SEOUL :Samsung Electronics Co Ltd said chip demand from smartphone and PC makers would weaken further in the second half of the year as people shop less, but that a fundamentally solid uptake of server memory chips provided a silver lining.

Earlier, San Diego-based Qualcomm Inc warned of a hit to fourth-quarter sales from cooling smartphone demand, adding to the chorus of voices cautioning about chip sales as red-hot inflation squeezes consumer spending. It is aiming for foldable phone sales to surpass that of its past flagship smartphone, Galaxey Note, in the second half.

"Fundamental demand for server will stay solid as the investments in core infrastructure and new growth areas such as AI and 5G are expected to keep expanding, centreing on major data centre companies," Samsung said.

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