Samsung Electronics forecast operating profit for Q4 2024 to more than double year-on-year and consolidated sales to grow 10.6 per cent, with the company reportedly on track to get a green light from Nvidia for its latest high bandwidth memory (HBM) products.

Operating profit was expected to climb to KRW6.5 trillion ($4.5 billion) from KRW2.8 trillion in Q4 2023.

Sales were estimated at KRW75 trillion.

Various news outlets called its guidance lacklustre, coming in below expectations due to delays in winning approval from Nvidia for next-generation HBM chips.

Nvidia founder Jensen Huang expressed confidence Samsung can resolve technical issues with its HBM products, Bloomberg reported.

Samsung will release its full earnings later this month.

It early October 2024, the company issued a surprising apology for its weak Q3 results and delays in shipping new HBM chips to support AI applications.