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

WATCH: Kiranjeet Kaur, senior research manager at IDC, looks at Samsung Electronics Co.'s results and its outlook.(Source: Bloomberg)

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By Sohee Kim

January 27, 2021 at 11:48 PM UTC

Updated on

January 28, 2021 at 1:00 PM UTC

This article is for subscribers only.

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.