Samsung Electronics Co. said Friday its operating profit dropped sharply in the fourth quarter of 2015 from three months earlier amid weakening chips and smartphone sales.

The tech giant estimated its fourth-quarter operating profit at

6.1 trillion won ($5.08 billion), down 17.5 percent from the 7.3 trillion won recorded a quarter earlier. The figure, however, marks a 15.3 percent surge from the 5.2 trillion won registered a year earlier.

Fourth-quarter sales were estimated at 53 trillion won, up 0.5 percent from the 52.7 trillion won a year earlier, according to the company's earnings guidance.

The estimate hovered slightly below the market consensus of 6.5 trillion won by 16 South Korean brokerage houses, according to data compiled by Yonhap Infomax, the financial arm of Yonhap News Agency. The securities firms also suggested sales of 53.6 trillion won for the October-December period.

Samsung didn't disclose its estimate for the fourth-quarter bottom line.

Shares of Samsung Electronics Co. closed 1.02 percent lower at

1,163,000 won Thursday, when the KOSPI lost 1.1 percent. The earnings guidance was released before the stock market opened Friday. (Yonhap)