Samsung flags 50% jump in Q4 operating profit as chips make up for Note 7 woes

A customer using his Samsung Electronics' Galaxy Note 7 as he waits for an exchange at company's headquarters in Seoul, South Korea, on Oct 13, 2016.
A customer using his Samsung Electronics' Galaxy Note 7 as he waits for an exchange at company's headquarters in Seoul, South Korea, on Oct 13, 2016.PHOTO: REUTERS

SEOUL (REUTERS) - Samsung Electronics Co Ltd said on Friday its fourth-quarter operating profit likely rose 50 per cent from a year earlier, beating expectations as memory chips and displays likely made up for the scrapped Galaxy Note 7 smartphone.

Samsung said October-December profit was likely 9.2 trillion won (S$11.08 billion), compared with 8.2 trillion won tipped by a Thomson Reuters StarMine SmartEstimate from a survey of 21 analysts.

Revenue for the quarter was likely down 0.6 per cent to 53 trillion won, the company said. Samsung did not provide further details and will release full earnings results at end-January.