[ad_1]
The Samsung logo is visible on an Android mobile phone.
Omar Marques / SOPA Images | LightRocket | Getty Images
SINGAPORE – Samsung Electronics announced on Friday that its operating profit for the quarter that ended in December was likely up 26% from a year ago to 9 trillion Korean won (8.22 billion kor dollars).
It was largely in line with analysts’ estimate of 9.1 trillion won, according to Refinitiv SmartEstimate.
Shares of Samsung Electronics in South Korea jumped 1.33% at the start of trading.
The company said its consolidated fourth quarter sales were likely to be 61 trillion won, up nearly 2% from a year earlier. Samsung has not broken down the performance of each business unit, including its primary semiconductor business.
Operating profit and consolidated sales fell quarter over quarter.
In the three months between July and September, the world’s largest smartphone maker posted a 59% year-on-year jump in operating profit to 12.35 trillion won, in part due to an increase demand for smartphones and consumer electronics. But Samsung said it expected profits to decline in the December quarter due to weak demand for memory chips and intense competition in the smartphone space.
Full December quarter results are expected later this month.
Samsung is expected to launch the latest versions of its flagship Galaxy smartphones next Thursday, earlier than usual.
[ad_2]
Source link