Sector: Semiconductors and Semiconductor Equipment

Samsung Electronics unveiled a new top-of-the-range Galaxy smartphone in London on Thursday, updating the most direct rival to Apple's iPhone with a larger touch screen and more powerful processor.

Samsung Electronics posted a record $5.2 billion quarterly profit as it shifted over 20,000 Galaxy smartphones an hour in January-March, outselling Apple's iPhone in a duel for the lucrative high end of the mobile industry.

SK Hynix Semiconductor, the world's No.2 computer memory chip maker, is still reviewing the books of Japan's Elpida Memory for a possible bid, the South Korean firm said after reporting a worse-than-expected quarterly loss.

Korea's Samsung Electronics ended Nokia's 14-year leadership of the global cellphone market in the first quarter of the year, outselling the struggling Finnish handset maker for the first time ever, according to a Reuters poll of analysts.

Private equity firms TPG Capital of the United States and China's Hony Capital are bidding jointly to buy Elpida Memory, a source familiar with the matter said on Friday, heating up the battle for the bankrupt Japanese chipmaker. 

Samsung Electronics, the world's top technology firm by revenue, estimated operating profit nearly doubled in January-March from a year ago, boosted by sales of its flagship Galaxy smartphones and its Note mini-tablet and phone. 

Toshiba may team up with SK Hynix of South Korea to buy Japanese memory chip maker Elpida Memory after its solo bid was less than the $1.8 billion offered by U.S. firm Micron Technology, the Nikkei reported.

The semiconductor manufacturer reported quarterly earnings and revenues that beat analysts' expectations, sending its shares higher in after-hours trading on Thursday.

Shares of Japan's Elpida Memory plunged 21 percent to a record low on Wednesday after the world's No.3 maker of DRAM chips flagged concerns about its survival, citing stalled discussions with lenders on financial support ahead of debt repayment deadlines.

Renesas Electronics and two other big Japanese chip makers have begun talks to combine their system chip operations and outsource production in a government-backed deal, sources said, as pressure mounts for drastic reforms to confront stiff global competition.

Asian stocks rallied on Thursday, after global manufacturing data eased worries about a slowdown. But, according to one analyst, the economic picture is much more mixed and central banks will continue to ease monetary policy in 2012, a factor that will boost cyclical stocks in Asia by up to 40 percent.

Hynix Semiconductor, the world's No.2 computer memory chip maker, reported its second consecutive quarterly loss, hit by tumbling computer chip prices as consumers ditched desktops and notebook PCs in favor of tablets and smartphones.

The company reported quarterly earnings and revenue that beat analysts' forecasts on Tuesday, sending its shares higher in trading after the closing bell.

ARM Holdings, the British chip designer whose technology powers Apple's widely popular iPhone and iPad, said it was confident it would continue to gain market share after it beat forecasts for the fourth quarter.