© Reuters. Samsung signage is seen in a store in Manhattan, New York City, U.S., November 22, 2021. REUTERS/Andrew Kelly/File Photo
SEOUL (Reuters) – Samsung Electronics Co Ltd (KS:) reported a likely 35% drop in fourth-quarter operating profit on Tuesday, as a rebound in memory chip prices likely shrank losses in the South Korean company’s mainstay chips division.
The world’s largest memory chip, smartphone and TV maker estimated its operating profit fell to 2.8 trillion won ($2.13 billion) in October-December, from 4.31 trillion won a year earlier, in a short preliminary earnings statement.
($1 = 1,311.7800 won)