Samsung expects its biggest 4th-quarter profit ever

The electronics giant likely got a boost from continued strong demand for server memory chips.

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Samsung is known for its smartphones, but it's been getting a boost from its components business. They go in everything from phones to data centers.

Juan Garzon/CNET

Strong demand for server memory chips during the pandemic is likely to propel Samsung to a record fourth-quarter profit.

The Korean electronics giant said Thursday that it expects its operating profit for the fourth quarter to come in at about 13.8 trillion won ($11.4 billion), an increase of more than 52% compared with the year-ago period.

Samsung also pegged its revenue for the three-month period ended Dec. 31 at about 76 trillion won, an increase of more than 23%.

The company didn't say what affected its results, but it likely received a boost in demand for its chips as more people, forced to work from home during the coronavirus pandemic, have been buying up electronic gear and other goods. Samsung will report its final results later this month. 

Samsung sells more phones and TVs than any other company, but it also has a huge business selling memory chips to device makers around the globe. In recent months, Samsung's chip business has gotten a boost from data centers that rely on the technology to store everything we're doing online.

Correction, Jan. 7: This story initially gave an incorrect date for the close of Samsung's fourth quarter. That period ended Dec. 31.