Samsung Electronics estimated operating profit more than doubled in the fourth quarter from the previous year, but its numbers on Wednesday fell far short of analyst expectations, fuelling concerns about the South Korean company’s continuing technological weakness.
Operating profit at the world’s largest maker of memory chips, smartphones and televisions was estimated at Won6.5tn ($4.5bn) in preliminary figures for its October-December quarter, missing the Won7.7tn forecast by analysts according to LSEG SmartEstimate.
Samsung said earnings in its core semiconductor division were hit by cooling demand for computers and handsets and the greater investments needed to expand capacity for advanced chip manufacturing.
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