Samsung quarterly profit likely fell sharply as chips drop

FILE - In this March 20, 2019, file photo, Kim Ki-nam, president and co-chief executive officer of Samsung Electronics Co.'s semiconductor division, speaks during the company's annual general meeting at a company's office building in Seoul, South Korea. Samsung Electronics Co. said Friday, April 5, 2019, its operating profit for the last quarter likely fell more than 60% from a year earlier amid falling memory chip prices and slowing demand for display panels. (Kim Hong-Ji/Pool Photo via AP, File)
A man passes by Samsung Electronics shop in Seoul, South Korea, Friday, April 5, 2019. Samsung Electronics Co. said Friday its operating profit for the last quarter likely fell more than 60% from a year earlier amid falling memory chip prices and slowing demand for display panels. (AP Photo/Ahn Young-joon)
People pass by an advertisement of Samsung Electronics' Galaxy S10 5G smartphone at its shop in Seoul, South Korea, Friday, April 5, 2019. Samsung Electronics Co. said Friday its operating profit for the last quarter likely fell more than 60% from a year earlier amid falling memory chip prices and slowing demand for display panels. (AP Photo/Ahn Young-joon)
A woman passes by an advertisement of Samsung Electronics' Galaxy S10 5G smartphone at a subway station in Seoul, South Korea, Friday, April 5, 2019. Samsung Electronics Co. said Friday its operating profit for the last quarter likely fell more than 60% from a year earlier amid falling memory chip prices and slowing demand for display panels. (AP Photo/Ahn Young-joon)
Employees walk past the logo of the Samsung Electronics Co. at its office in Seoul, South Korea, Friday, April 5, 2019. Samsung Electronics Co. said Friday its operating profit for the last quarter likely fell more than 60% from a year earlier amid falling memory chip prices and slowing demand for display panels. (AP Photo/Ahn Young-joon)
People pass by an advertisement of Samsung Electronics' Galaxy S10+ smartphone at its shop in Seoul, South Korea, Friday, April 5, 2019. Samsung Electronics Co. said Friday its operating profit for the last quarter likely fell more than 60% from a year earlier amid falling memory chip prices and slowing demand for display panels. (AP Photo/Ahn Young-joon)

SEOUL, South Korea — Samsung Electronics Co. said Friday its operating profit for the last quarter likely fell more than 60% from a year earlier amid falling memory chip prices and slowing demand for display panels.

The South Korean technology giant estimated an operating profit of 6.2 trillion won ($5.4 billion) for the January-March quarter, which would represent a 60.4% drop from the same period last year.

The company said revenue likely fell 14% to 52 trillion won ($45.8 billion), but didn't provide a detailed account of the estimated performances of each business division. It will release a finalized earnings report later this month.

Samsung last week predicted that its first-quarter earnings would fall below market expectations because of a larger-than-expected decline in chip prices and weak demand for display panels.

Samsung, which has dual strength in parts and finished products, is the world's biggest maker of memory chips and smartphones.

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