SEOUL (Reuters) -Samsung Electronics reported a 34% drop in fourth-quarter profit on Wednesday, as weak consumer demand for TVs and home appliances outweighed a recovery in the global memory chip market.

The world’s biggest maker of memory chips said operating profit fell to 2.8 trillion won ($2.11 billion) in October-December, versus 4.3 trillion won a year earlier.

That was in line with Samsung’s own estimate of 2.8 trillion won flagged earlier this month.

Revenue fell 4% to 67.8 trillion won.

($1 = 1,328.5300 won)

(Reporting by Joyce Lee and Heekyong Yang; Editing by Sonali Paul)

Brought to you by