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Samsung Electronics forecasts weaker 2019 earnings as chip sales slow

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Samsung Electronics forecasts weaker 2019 earnings as chip sales slow

Samsung Electronics forecasts weaker 2019 earnings as chip sales slow

Samsung Electronics warned of weaker earnings in 2019 as it posted a 29 percent drop in fourth-quarter operating profit on Thursday, hit by a slowdown in demand for memory chips.

Pascale Davies reports.

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Samsung Electronics forecasts weaker 2019 earnings as chip sales slow

It may be the world's largest computer chip and smartphone maker but even Samsung hasn't escaped the full force of the U.S. China trade dispute.

On Thursday it posted a 29 percent drop in Q4 operating profit, a revenue fall of 10 percent and warned of weaker earnings for the year ahead.

Demand fell across the chip industry last year .

Partly, according to Intel, due to Chinese buyers purchasing chips earlier than usual because of trade tensions.

Samsung stocks fell 0.2 percent on Thursday's results but investors do have some hope for the future.

With Samsung due to roll out a high-end foldable smartphone, a new flagship Galaxy series, and 5G capable devices this year.

Investors are also betting on chip sales to data centres, one of the company's brightest spots.

That's because of growing demand from e-commerce and data analytics industries for cloud computing services.

Samsung said it still expected memory demand to remain weak in the first quarter.

And smartphone demand to remain flat - even with prices rising as devices pack in more expensive features.

Its mobile division logged a profit that was down 38 percent from a year ago.

The company is also facing stiff competition.

Last week, Chinese rival Huawei said it could overtake Samsung this year.




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