- Samsung (OTC:SSNNF,OTC:SSNLF) reports a 26% Q4 operating profit increase backed by sales of memory chips and display panels due to the pandemic-driven demand. Revenue was up 3% to 61.6T won, in-line with analyst estimates.
- Negatives for the quarter included chip production costs, weaker memory chip prices, and a sequential drop in smartphone sales.
- For Q1, Samsung forecasts a softer profit due to currency conditions in the memory business and costs related to new production lines.
- Demand is expected to remain strong for mobile and data center. Samsung expects the DRAM chip market to recover in H1.
- Press release.
- Samsung's DRAM peer Micron (NASDAQ:MU) is trading up 2.4% pre-market.
- Last week, Bloomberg reported that Samsung is considering a $10B chip fab in Texas to up its battle with foundry giant TSMC.