Samsung said on Wednesday its operating profits likely fell 34% in the fourth quarter. But the forecast beat analysts' estimates, signaling a turnaround for the company in the coming year helped by higher prices for memory chips and strong sales of its smartphones.
Shares in Samsung (SSNLF) rose nearly 2.9% in Seoul.
The South Korean technology giant said that it expects to make an operating profit of 7.1 trillion Korean won ($6 billion) for the quarter that ended in December. That's down from 10.8 trillion Korean won ($9.2 billion) for the same period a year ago, but higher than analysts' estimates of 6.6 trillion won, according to data provider Refinitiv.
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