Early Asia tech results signal slow recovery after virus battering [Reuters]
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Source: Reuters
Early Asia tech results signal slow recovery after virus battering SHANGHAI/SEOUL (Reuters) - Smartphone sales in China are rising again as COVID-19 cases there decline and global demand for chips used in work-from-home networks is surging, positioning Asian tech firms for a slow but steady recovery, their early quarterly report cards showed. Samsung Electronics guided on Tuesday to a better-than-expected first-quarter profit, as data centres stacked up on memory chips to deal with a rise in virtual meetings. And Apple Inc supplier Foxconn reported on Monday a drop in March-quarter sales that was slightly smaller than it had first estimated. As well, news that the number of new COVID-19 cases were receding in Europe and starting to plateau in some parts of the United States - big markets for Asian tech companies - fuelled gains in Asian shares on Tuesday. Mainland China reported a drop in new cases as well. “Within Asia, developing signs of industry returning to work tell us that prod
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