Samsung Electronics 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 top memory chip maker has struggled since late 2018 as a weak global economy curbed spending by data center customers and rising inventory of memory chips squeezed prices, ending a two-year industry boom. Operating profit in the quarter ended Dec. 31 fell 34% to 7.1 trillion won ($6.09 billion) from 10.8 trillion won a year earlier. …read more
Source:: Yahoo Finance
