Samsung Q4 profit meets guidance; outlook cautious

Seoul

SAMSUNG Electronics Co Ltd on Thursday reported its first annual earnings decline in three years, as strong chip earnings failed to make up for weakness in the South Korean giant's smartphone business.

The semiconductor division was a bright spot as Samsung posted fourth-quarter operating profit of 5.3 trillion won (S$6.53 billion), in line with the 5.2 trillion won profit the firm guided for earlier this month.