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After dismal 2019, Samsung pins modest recovery hopes on chip market pick-up – Source Reuters Tech News

SEOUL (Reuters) – Samsung Electronics Co (005930.KS) is counting on a gradual recovery in memory chip demand from data centers and 5G smartphone makers to help it bounce back in 2020 after sliding to its worst operating profit in four years.

FILE PHOTO: FILE PICTURE: Workers set up a Samsung display in preparation for the 2020 CES trade show in Las Vegas, Jan. 5, 2020. REUTERS/Steve Marcus/File Photo

But in a guarded outlook, the world’s biggest memory chip and smartphone maker said on Thursday it couldn’t rule out the possibility that demand growth may be curbed amid lingering tensions on U.S.-China trade and looming fears of the economic impact of the new coronavirus outbreak in China and beyond.

Samsung, which counts smartphone rivals Apple Inc (AAPL.O) and Huawei Technologies Co as customers for its chips and displays, said fourth-quarter operating profit slumped to 7.16 trillion won ($6.13 billion) on weaker chip demand, down 34% from the same period a year earlier….

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Source Reuters Tech News

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