In four years, Samsung Electronics Ltd said its fourth-quarter operating profit likely jumped 52% on-year to its highest.
The accomplishment was made possible by solid demand for server memory chips and higher margins in chip contract manufacturing.
The world’s largest memory chip and smartphone maker would be tech giant’s highest fourth-quarter operating profit since Q4 2017. which
Samsung estimated October-December profit was 13.8 trillion won ($11.5 billion) It’s due to release detailed earnings on Jan. 27.
Although prices of memory chips dipped during the quarter, increased demand from server clients lifted Samsung’s quarter-on-quarter shipments of both DRAM chips,
Samsung chips are widely used in data centers, and NAND flash memory chips, used for data storage in tech devices.
Samsung Electronics’ shares have climbed about 11% since early November in anticipation of memory chip prices dipping less than expected during the first half of this year.
– Reuters