Samsung confident of rebound after Q4 profit drops 34%

SEOUL -- Samsung Electronics is confident that demand from 5G and data centers will help its memory chip business bounce back this year after the company's overall operating profit tumbled by a third last quarter.

The South Korean tech giant said on Jan. 30 that its operating profit for October-December came in at 7.16 trillion won ($6.04 billion), down 33.7% on the year, despite revenue growing 1.1% to 59.88 trillion won.