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(LEAD) Samsung exec sees no changes in demand for DRAM chips this year

All Headlines 16:39 September 12, 2018

(ATTN: UPDATES with Samsung Electronics Vice Chairman Lee Jae-yong's visit to Samsung Advanced Institute of Technology)

SEOUL, Sept. 12 (Yonhap) -- A senior executive of South Korean tech giant Samsung Electronics Co. said Wednesday that he expects no major changes in demand for dynamic random access memory (DRAM) chips this year.

"There will be no big changes in demand for DRAM chips at least until the fourth quarter of this year," Samsung Electronics President Kim Ki-nam, who is in charge of the device solutions division, told reporters on the sidelines of a forum held at a Samsung building in southern Seoul.

This photo provided by Samsung Electronics Co. shows Kim Ki-nam, the head of Samsung's device solutions division, delivering an opening speech at a forum at a Samsung building in southern Seoul on Sept. 12, 2018. (Yonhap)

Asked if the ongoing robust demand for memory chips may end next year, he forecast that there will still be a demand for chips in the markets.

Samsung's chip business posted an operating profit of 11.61 trillion won (US$10.2 billion) in the second quarter, up 44 percent from 8.03 trillion won a year earlier.

Earlier Wednesday, Samsung Electronics said Vice Chairman Lee Jae-yong visited the Samsung Advanced Institute of Technology, the research and development hub of the conglomerate, for talks with researchers on artificial intelligence and electrical and electronic systems in cars.

Samsung Electronics provided no further details about the visit, which took place on Monday.

The institute, an incubator for cutting-edge technologies, has about 1,100 experts in a wide range of fields, including artificial intelligence, autonomous driving and bio technology.

Samsung Electronics recently launched its sixth artificial intelligence research center in New York.

The tech giant is seeking to strengthen its AI capabilities and has opened research institutes in South Korea, Britain, Canada, Russia and the United States' Silicon Valley.

Samsung has already announced a plan to boost its AI research capabilities and employ about 1,000 specialists by 2020.


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