Skip to content
Subscriber Only

Samsung Profit Slides 38% With Stubborn Memory-Chip Slump

  • Profit misses estimates due to chip, display profit declines
  • Rival and customer Apple reported strong profits this week
Video player cover image
Samsung Expects Improvements in 2020
Updated on

Samsung Electronics Co. reported a 38% decline in profit due to falling memory chip prices, a warning sign for the global technology industry as it navigates trade tensions and the coronavirus outbreak.

Net income tumbled to 5.23 trillion won ($4.4 billion) for the three months ended December, compared with the 5.31 trillion won average of projections. The miss is a surprise because Samsung carefully orchestrates earnings, including reporting preliminary numbers a few weeks before final results. The early numbers this month beat analyst estimates.