Samsung Electronics Co., the world's largest memory chip maker, predicted Tuesday that its fourth-quarter operating profit may decline 35 percent from a year earlier, in signs that weak demand for its mainstay semiconductor was persistent. For the three months ended Dec. 31, operating profit is estimated to fall to 2.8 trillion won (US$2.1 billion) from 4.3 trillion won in the same period of 2022, the company said in a regulatory filing. Sales also declined 4.9 percent to an estimated 67 trillion won in the fourth quarter from 70.46 trillion won a year ago, according to the filing. On a quarterly basis, operating profit rose 15 percent from 2.43 trillion won but sales were down 0.6 percent from 67.4 trillion won. For the whole of 2023, operating income likely plunged 85 percent to 6.54 trillion won from 43.38 trillion won in the previous year. Sales dropped 15 percent to 258.16 trillion won from 302.23 trillion won during the cited period. The company did not provide further details on its estimated ear nings figures. Its final earnings results will be released later this month. Source: Yonhap News Agency
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