Samsung Q4 profit likely up 33% on chip, display panel sales

SEOUL: Samsung Electronics Co Ltd’s December-quarter profit likely rose by a third, as remote working and TV-watching during the pandemic fuelled demand for chips and display panels, offsetting weaker smartphone sales, analysts said.

Profit likely rose 33% to 9.5 trillion won ($8.75 billion) from the same period a year earlier, according to Refinitiv SmartEstimate, based on analyst estimates weighted toward those more consistently accurate. Revenue likely rose 2.6%.

Samsung, which is scheduled to announce preliminary fourth-quarter results on Friday, beat market expectations for profit in the past three quarters.