Samsung Electronics Co Ltd on Wednesday said quarterly operating pro...
Samsung, the world’s biggest maker of memory chips, has seen earnings drop since late 2018 as a weak global economy curbed spending by data center customers while rising inventories squeezed prices, ending a two-year industry boom.
“The DRAM chip price has already hit bottom while inventories have been holding at lower levels - a potentially encouraging sign to pull up DRAM prices in the second quarter,” said analyst Park Sung-soon at Cape Investment & Securities. That would beat the forecast 6.5 trillion won operating profit from Refinitiv SmartEstimate, helped by one-off gains, analysts said.
Annual operating profit likely fell 53% to 27.7 trillion won, the lowest since 2015 and steepest decline in a decade.Earnings from chips and mobile devices in the fourth quarter were better than analysts expected, whereas the display business lagged, said a person with direct knowledge of the matter, declining to be identified as the information was not public.
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