Samsung Electronics has estimated a solid performance for the fourth quarter although its sales and operating profit declined from the previous quarter. 

The South Korean tech giant said in an earnings guidance on Friday that it expected operating profit of nine trillion won for the October to December period last year, up 25-point-seven percent from a year earlier.

The firm estimated its sales would be 61 trillion won for the fourth quarter, up one-point-87 percent on-year. 

The predicted earnings, however, slowed from the previous quarter, when Samsung posted record quarterly results. The drop is attributed to falling chip prices, the won's appreciation against the U.S. dollar and a drop in smartphone sales in the fourth quarter. 

Samsung estimated its combined operating profit for all of 2020 at 35-point-95 trillion won, up 29-point-five percent from a year earlier. 

Its combined sales were forecast to reach 236-point-26 trillion won, up two-point-five percent on-year.