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South Korea’s Samsung Electronics
expects its profits to triple in the final three months of last year, reaching a record high, as memory prices surge amid booming demand tied to artificial intelligence.
The world’s largest memory chipmaker estimated that operating profit reached 20 trillion won and consolidated sales of about 93 trillion won in the fourth quarter, according to an earnings guidance released Thursday.
The profit projections mark a significant improvement from a year earlier and would surpass Samsung’s long-standing record of 17.6 trillion won set in the third quarter of 2018.
