The world’s largest maker of memory chips and smartphones forecasts limited earnings growth in the current quarter as profitability at its core semiconductor business continues to weaken.

Samsung had a solid end to 2024, with Q4 revenues reaching KRW 75.8 trillion ($52.1 billion), a 12% year-on-year increase from Q4 2023. Operating profits

Samsung Electronics said on Friday it expected limited first-quarter earnings growth due to weak memory chip business conditions, as it continues to work towards providing high-end chips to Nvidia. The South Korean firm is also grappling with weak smartphone sales and said it aimed to revive mobile margins to above 10% this quarter,

Samsung Electronics reported fourth-quarter profit that rose 130% from a low base, confirming it had missed earlier estimates due to slowing memory chip demand and extra costs as it works towards providing high-end chips to Nvidia.