Samsung posts solid Q4 results, expects weaker Q1

Seoul, Jan 28 : Samsung Electronics on Thursday said it expects downbeat first-quarter results on the weak US dollar and uncertainties over the novel coronavirus pandemic after announcing a solid fourth-quarter performance, although demand for chips and smartphones will remain strong.
The company presented a conservative view on a so-called “super cycle” in the memory chip sector that many analysts have predicted to start this year.
The South Korean tech giant said its fourth-quarter net profit increased 26.4 per cent on-year due to firm demand for chips and displays amid the pandemic.
The world’s leading memory chip and smartphone manufacturer said its net income stood at 6.6 trillion won ($6 billion) in the October-December period, compared with 5.22 trillion won a year earlier.
Its operating profit jumped 26.35 per cent on-year to 9.04 trillion won in the fourth quarter of 2020, while sales rose 2.78 percent to 61.55 trillion won over the cited period.
But on a quarterly basis, Samsung’s fourth-quarter earnings were down from the third quarter performance, when it racked up record sales of 66.9 trillion won and an operating profit of 12.3 trillion won.