Samsung Electronics Q4 operating profit likely down 69 pct on lower demand

Samsung Electronics-Q4 earnings

Samsung Electronics Q4 operating profit likely down 69 pct on lower demand

SEOUL, Jan. 6 (Yonhap) -- Samsung Electronics Co. said Friday its fourth-quarter operating profit likely plunged 69 percent from a year earlier due to lower demand for chips and home appliances amid recession worries.

The world's largest memory chip and smartphone maker estimated its October-December operating profit at 4.3 trillion won ($3.4 billion), down from 13.87 trillion won a year ago.

Sales likely fell 8.6 percent on-year to 70 trillion won in the December quarter from 76.57 trillion won a year earlier, the company said in a regulatory filing.

Samsung is due to release detailed earnings later this month.

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