SAMSUNG REPORTS PROFIT JUMP DRIVEN BY STRONG CHIP DEMAND

Samsung Electronics Co. said its operating profit for the last quarter rose by more than 26% as it capped offa robust business year where its dual strength in parts and finished products allowed it to thrive amid the pandemic.

But the South Korean tech giant expects its profit to weaken in the current quarter with a weak dollar and costs associated with expanded production lines likely affecting its bread-and butter computer memory chip business.

Like many technology companies, Samsung has gotten a boost from surging demand for its computer chips and devices as the pandemic forces people to work from home.