- Title: FILE: Samsung fourth-quarter profit growth slows as chip issues weigh
- Date: 7th April 2022
- Summary: SEOUL, SOUTH KOREA (FILE - JULY 26, 2023) (REUTERS) PEOPLE GATHERING AT UNVEILING EVENT OF SAMSUNG ELECTRONICS' GALAXY Z FLIP5 AND FOLD5 SCREEN SHOWING PROMOTIONAL VIDEO OF GALAXY Z FLIP5 VARIOUS OF PEOPLE TESTING GALAXY Z FLIP5 AND FOLD5 SIGN READING (English): "GALAXY Z FOLD5 / Z FLIP5" SEOUL, SOUTH KOREA (FILE - JULY 21, 2023) (REUTERS) GALAXY Z FLIP5 ON DISPLAY VARIOUS
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- Keywords: Galaxy Q3 Samsung Samsung Electronics South Korea chip flip fold foldable profit result smartphone
- Location: SEOUL, VARIOUS FILMING LOCATIONS, SOUTH KOREA
- City: SEOUL, VARIOUS FILMING LOCATIONS, SOUTH KOREA
- Country: South Korea
- Topics: Asia / Pacific,Company News Markets,Economic Events
- Reuters ID: LVA003008507042022RP1
- Aspect Ratio: 16:9
- Story Text: Samsung Electronics released on Wednesday (January 8) a fourth-quarter operating profit estimate that missed analyst estimates by a large margin, as it lagged behind rival SK Hynix in supplying high-end chips to Nvidia.
The world's largest memory chip, smartphone and TV maker estimated an operating profit of 6.5 trillion won ($4.47 billion) for the three months ended December 31, versus a 7.7 trillion won LSEG SmartEstimate.
The estimated result was 131% higher than the same period a year earlier, but down 29% from the third quarter. Samsung shares fell 1% in early trading but later rebounded to rise more than 1%.
Samsung said on Wednesday that earnings also fell in its business of designing and contract manufacturing logic chips, due to slower mobile phone demand, lower utilisation rates at its factories and higher research and development costs.
(Production: Minwoo Park) - Copyright Holder: FILE REUTERS (CAN SELL)
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