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Samsung Electronics' Q4 profit jumps 53% on solid memory sales

World's top chipmaker expects increasing demand amid supply chain challenges

The jump in Samsung's fourth-quarter profit came from brisk sales of memory chips and higher margins in chip contract manufacturing.   © Reuters

SEOUL (Reuters) -- Samsung Electronics on Thursday forecast a recovery in global tech device demand in 2022 after reporting its best fourth-quarter profit in four years, but warned of ongoing challenges from supply chain issues and COVID-19.

The tech giant said its memory chip business this year "expects server demand to grow, attributed to [an] increase in IT investments and new high-core CPUs," while mobile chip demand is likely to increase due to expansions of 5G-capable models.

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