Samsung SDS on Wednesday reported preliminary first-quarter revenue of 3.35 trillion won and operating profit of 78.3 billion won. Revenue fell 3.9 percent from a year earlier, while profit slid 70.8 percent after it booked a 112.0 billion won retirement benefit provision following a change in severance pay calculation standards. Cloud revenue rose 5.8 percent to 690.9 billion won, becoming the largest share within IT services.

AI data centre cooling technology company Phononic is in sale talks, The Information reported on April 20, citing sources familiar with the matter. The deal is being discussed at a value of at least $1.5 billion, and some potential buyers have offered more than $2 billion, the report said. Phononic could also opt to raise additional funding instead of a sale.