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Samsung Electronics reported Tuesday a likely drop in fourth-quarter operating profit, much worse than analysts had expected.

The world's largest memory chip, smartphone and TV maker estimated that operating profit fell to 2.8 trillion won ($2.13 billion) from 4.31 trillion won a year earlier.

The only thing that improved was sales in memory chips, as Chinese PC and mobile manufacturers began replenishing memory chips in the fourth quarter. Demand for consumer electronics remained weak.

Foldable smartphones probably sold about 1 million fewer units.

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