Hong Kong CNN —Samsung posted its fourth straight quarter of slumping profits on Wednesday, capping off a dismal year that also saw it lose its crown as the world’s top smartphone maker.
Despite that, Samsung is optimistic about a resurgence in demand for mobile devices this year.
The South Korean firm has acknowledged “lower smartphone sales” during the fourth quarter, though it noted a pickup in demand for high-end smartphones compared to the previous three months.
This year, however, the market is expected to recover gradually, “despite various potential obstacles, including interest rate policies and geopolitical issues,” Samsung said in a statement Wednesday.
The company managed to command higher prices for memory chips in the fourth quarter compared to the previous quarter, showing a slight “improved performance,” it added.
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