SEOUL, South Korea (AP) — Samsung Electronics Co. said Thursday its operating profit for the last quarter rose by more than 26% as it capped off a robust business year where its dual strength in parts and finished products allowed it to thrive amid the pandemic. But the South Korean tech giant expects its profit to weaken in the current quarter with a weak dollar and costs associated with expanded production lines likely affecting its bread-and-butter computer memory chip business. Like many technology companies, Samsung has gotten a boost from surging demand for its computer chips and devices as the pandemic forces people to work from home. Samsung has also dealt with legal issues surrounding its vice chairman and de facto chief, Lee Jae-yong, who last week was sentenced by the Seoul High Court to two and a half years in prison for his involvement in a 2016 corruption scandal that spurred massive protests and ousted South Korea’s then-president. “For 2021, the company expects a recovery in overall global demand but uncertainties persist over the possibility of recurring COVID-19 waves,” Samsung said in an emailed statement. Samsung’s operating profit of 9.1 trillion won ($8.1 billion) for the October-December quarter represented a 26.4% increase from the same period a year before, while its revenue rose by 2.8% to 61.6 trillion won ($55.3 billion).
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