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Samsung's profit jumps 26% in 4Q on memory chip demand

Tech giant to release latest Galaxy smartphone next week to take on 5G iPhone

Samsung turned in a robust Q4 performance despite a dip in memory chip prices.    © Reuters

SEOUL -- Samsung Electronics' operating profit jumped 26% in the fourth quarter from a year ago, with analysts expecting an even stronger performance ahead as memory chip prices look set to rebound this year.

The world's largest memory chip and smartphone maker said on Friday that its operating profit hit 9 trillion won ($8.2 billion) in the October-December period, up 25.7% from the previous year. Its sales rose 1.9% to 61 trillion won during the same period.

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