Samsung Elec says profit fall likely milder than forecasts as chip prices bottom out
Samsung Electronics Co Ltd said quarterly operating profit likely fell at a milder pace than analysts forecast, indicating memory chip prices bottomed out and strengthening hope of recovery from an industry downturn. The announcement sent Samsung’s share price up 2.2% in morning trade, bucking the wider market’s 0.8% fall, with cross-town chip rival SK Hynix…