SEOUL (Reuters) – Samsung Electronics on Wednesday estimated a 131% jump in fourth-quarter operating profit from a year earlier, but missed analysts’ estimates by a wide margin as it fell behind rival SK Hynix in supplying high-end chips to Nvidia (NASDAQ: ).
The world’s largest maker of memory chips, smartphones and TVs estimated operating profit of 6.5 trillion won ($4.47 billion) for the three months ended Dec. 31, compared with LSEG SmartEstimate’s 7.7 trillion won.
Samsung ( KS: ) said in a statement on Wednesday that its chip earnings were hit by slowing demand for computers and mobile phones, as well as rising research and development costs and investments in manufacturing capacity for advanced chip processes.
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