Samsung Profit Misses Estimates as Stronger Won Hits Sales
Stronger Won Hits Samsung Sales
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Samsung Electronics Co. reported lower-than-projected profit as it lost momentum in memory chips and faced a strengthening South Korean won.
Operating income rose to 15.1 trillion won ($14.2 billion) in the three months ended December, according to preliminary results released Tuesday. That compares with the 16.1 trillion-won average of analysts’ estimates compiled by Bloomberg. Shares of Samsung fell 1.6 percent to 2,559,000 won in early trade.