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Samsung Net Profit Misses Estimates After 5G iPhone’s Debut

  • Company expects a gradual recovery in memory prices this year
  • Sees a tough first quarter ahead and Covid-19 uncertainty
Bloomberg business news
WATCH: Kiranjeet Kaur, senior research manager at IDC, looks at Samsung Electronics Co.'s results and its outlook.(Source: Bloomberg)
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Samsung Electronics Co. missed analyst estimates for the fourth quarter and warned profitability will likely decline this quarter, citing weakness in its memory chip business and challenges with currency fluctuations.

South Korea’s biggest company reported net income in the three months ended December of 6.45 trillion won ($5.84 billion), missing the 7.3 trillion won average of estimates compiled by Bloomberg. Shares fell 2.2% in Seoul on Thursday.