Samsung quarterly earnings beat estimates after chip prices stage comeback

SEOUL - Samsung Electronics' quarterly earnings beat estimates after memory chip prices began to climb out of a persistent downturn.

NAND prices improved sequentially and DRAM's descent slowed, even though the fourth quarter is a typically slow season, said Bloomberg Intelligence analyst Anthea Lai. A strong demand comeback from server customers may restore Samsung's inventory back to normal levels earlier than expected in 2020, she added.

Samsung shares soared 44 per cent in 2019 on expectations for an uptrend in demand in 2020. The growing shift toward 5G wireless technology and cloud computing will drive chip business growth, said CW Chung, head of Korea equity research for Nomura International in Seoul.

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