Samsung Electronics fourth-quarter profit up 64 percent on-year to new record

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SEOUL (Reuters) – Samsung Electronics Co Ltd (005930.KS) posted a record quarterly profit, as expected, for the three months through December, led by strong demand for memory chips.

Operating profit for the world’s biggest chipmaker was 15.15 trillion won ($14.12 billion) in the fourth quarter, up 64.3 percent from a year ago and in line with the 15.1 trillion won the company had estimated.

Revenue jumped 23.7 percent to 66 trillion won, also in line with its earlier estimate.

Reporting by Joyce Lee; Editing by Stephen Coates