Samsung’s Q4 profit misses expectations, but stock rises

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Samsung’s Q4 profit misses expectations, but stock rises - Korea Economic Daily

Quick Summary:

The company blamed the disappointing earnings for the quarter on the weak demand for conventional memory chips for PC and mobile devices, as well as its hefty spending on research and development (R&D) and a production capacity ramp-up, which more than offset the company’s highest-ever memory sales on brisk sales of high-performance memory products.

Samsung Electronics Co.flagged weaker-than-expected earnings for the last quarter of last year due to a fall in memory chip prices and soft demand for its smartphones and other mobile devices.

South Korea’s largest memory chip producer on Wednesday reported in a regulatory filing that its preliminary operating profit for the fourth quarter ended in December 2024 stood at 6.50 trillion won ($4.5 billion), more than doubling from a year ago.