The South Korean conglomerate said Friday that it expects to post operating profit of about 9 trillion Korean won ($8.2 billion) for the October-December quarter, an increase compared to the same period a year earlier but off somewhat from analyst estimates.
The company predicted sales of some 61 trillion Korean won ($56 billion), in line with the expectations of analysts polled by Refinitiv.
The company did not elaborate on earnings, but it will report full results for the fourth quarter at the end of this month.
Even so, analysts expect earnings in 2021 to be strong as sales of smartphones and memory chips ramp up. Daiwa analyst SK Kim pointed to the forthcoming release of the Samsung Galaxy S21 as a bright spot.
“We see [Samsung] launching the Galaxy S series, its key flagship line, earlier than before by end-January 2021, which we believe will drive a sharp rebound in smartphone shipment,” Kim wrote in a research note earlier this week.