Samsung Elec says profit fall likely milder than forecasts as chip prices bottom out
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SEOUL (Reuters) - Samsung Electronics Co Ltd on Wednesday said quarterly operating profit likely fell at a milder pace than analysts forecast, indicating memory chip prices bottomed out and strengthening hope of recovery from an industry downturn.The announcement sent Samsung's share price up 2.2% in morning trade, bucking the wider market's 0.8% fall, with cross-town chip rival SK Hynix Inc also up over 5%.Samsung, the world's biggest maker of memory chips, has seen earnings drop since late..