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.
The conservative forecast failed to satisfy investors hoping for a brighter outlook, and the company’s shares ended down 3.2%, having fallen as much as 3.9% at one point, while the Seoul market benchmark was off 1.7%.
Samsung, which counts smartphone rivals Apple Inc (AAPL.O)…
Source Reuters Tech News