Samsung profit estimates beat forecasts, earnings likely fell 34%


Samsung Electronics Co Ltd on Wednesday flagged a smaller-than-expected fall in quarterly operating profit, indicating that memory chip prices bottomed out quicker than analysts had anticipated, strengthening hopes of a recovery.

The world's biggest memory chip maker has struggled since late 2018 as a weak global economy curbed spending by data centre customers and rising inventories of memory chips squeezed prices, ending a two-year industry boom. But hopes for a rebound in chip prices are gaining momentum, and an expected easing.....

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