SEOUL (Reuters) – Samsung Electronics Co on Wednesday estimated a 131% jump in fourth-quarter operating profit from a year earlier but fell short of analyst estimates by a wide margin as it lagged rival SK Hynix in supplying high-end chips to Nvidia Corp (NASDAQ: NASDAQ: ) . .
The world's largest maker of memory chips, smartphones and TVs estimated operating profit of 6.5 trillion won ($4.47 billion) for the three months ended Dec. 31, versus LSEG SmartEstimate's 7.7 trillion won.
Samsung (KS:) said in a statement on Wednesday that its chip profits were hurt by slowing demand for computers and mobile phones, as well as higher research and development costs and investments in manufacturing capacity for advanced chip operations.
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