Reported about 20 hours ago
Samsung Electronics reported a preliminary fourth-quarter operating profit of 6.5 trillion won, significantly below expectations, hindered by increased costs related to high-end chip production for Nvidia and declining demand for traditional memory chips. The company's revenue also fell short of analyst projections, as competition and a slowdown in mobile phone demand affected its profit margins. Despite a year-over-year profit increase, this figure represents a 29% drop from the previous quarter.
Source: YAHOO