While fourth-quarter revenue and operating profit fell quarter on quarter, annual revenue reached the second-highest on record, Samsung said.

Samsung Electronics reported fourth-quarter profit that rose 130 per cent 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.

Samsung Electronics Co.’s pivotal chip division reported a smaller-than-expected profit as the world’s largest memory chipmaker fights to narrow the lead arch-rival SK Hynix Inc. has in the artificial intelligence arena.