<p>Samsung Electronics said recently that it will continue to reduce the production of memory chips, but it also predicts that the consumer electronics market will rebound in the second half of the year. In the second quarter of this year, although Samsung Electronics revenue fell 86% year-on-year to 1.55 trillion won (approximately US $1.2 billion), due to the weakening of the won, this figure still exceeded market expectations. In addition, Samsung Electronics operating profit also fell 95% year-on-year to 668.5 billion won, but the decline was also smaller than market expectations. By business unit, the loss of Samsung Electronics Semiconductor narrowed, and the performance of the mobile experience (MX) division where smartphones are located continued to decline. Samsung Electronics shares rose 2.7 per cent today after the results were released. Sanjeev Rana, an analyst at CLSA Korea, said: &#34;The worst is over. Hynex prices are rebounding in the second quarter and Samsung Electronics prices may also recover in the third quarter.&#34; Prior to the announcement of the Electronics financial report in Samsung, TSMC had lowered its performance outlook and postponed the production of US factories to 2025. This move warned of the degree of uncertainty in the global chip field. However, looking forward to the second half of the year, Samsung Electronics said that * * the overall memory chip inventory seems to have reached its peak in May. It is expected that global consumer electronics demand will gradually recover in the second half of the year, driving the profit improvement of the component business. It is also expected that smartphone shipments will increase and the average selling price will also increase in the third quarter. **Kim Jae-joon, executive vice president of Samsung Electronics memory business, said that the development of artificial intelligence will promote the rapid growth of demand for high-performance memory. With its leading position in chips, electronics and smartphones, Samsung Electronics is often seen as an important indicator for investors looking for when demand for electronics and semiconductors will rebound. In order to compete with the upcoming Apple competition, Samsung Electronics to launch the fifth generation of foldable smartphones. In addition, the Samsung Electronics is also studying a lower-cost option to gain market share in the increasingly popular foldable mobile phone field. Samsung Electronics executives said the company is developing mixed reality devices and will build an ecosystem to support content development in this emerging field.</p>

SSNGY

<p>The company stated that overall memory chip inventory seems to have peaked in May, and it is expected that smartphone shipments will increase this quarter, with prices also rising.</p>

Turning point? Samsung Electronics expects consumer electronics demand to rebound in the second half of the year.