Samsung Electronics Q4 profit jumps on server chip demand, foundry margins

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Reuters UK

By Joyce Lee and Heekyong Yang SEOUL (Reuters) -Samsung Electronics Co Ltd said on Friday said its fourth-quarter operating profit likely jumped 52% on-year to its highest for the quarter in four years, helped by solid demand for server memory chips and higher margins in chip contract manufacturing. The world’s largest memory chip and smartphone maker estimated October-December profit at 13.8 trillion won ($11.5 billion), which would be tech giant’s highest fourth-quarter operating profit since Q4 2017. The result missed a Refinitiv SmartEstimate of 15.2 trillion won, which analysts attributed…

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