A headquarters of Samsung Electronics in Seocho District, Seoul / Newsis

Samsung Electronics on Tuesday estimated its third-quarter operating profit nearly tripled, but missed market expectations due to the lukewarm performance of its high-end memory chips used in artificial intelligence computing.

The world's biggest maker of memory chips expected an operating profit of 9.1 trillion won ($6.7 billion) for the third quarter, up 274.5 percent from a year earlier, Samsung Electronics said in a regulatory filing.

But operating profit retreated 12.8 percent from three months earlier.

Revenue increased 17.2 percent to a record 79 trillion won for the July-September period. The company did not disclose the data for net earnings in the guidance.

The operating profit was 11.7 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Experts forecast that Samsung Electronics' lower-than-expected earnings report is attributable to sluggish shipment of memory chips due to contracting sales of smartphones and personal computers.

The company's slower performance in high-bandwidth memory business also weighed heavily on the third-quarter report.

Samsung Electronics' latest eight- and 12-layer HBM3E chips are currently undergoing quality tests by U.S. AI chip giant Nvidia.

Its Korean rival SK hynix, however, has already begun supplying its 12-layer HBM3E products to Nvidia.

"Commercialization of our HBM3E to major customers has been delayed compared to expectations," Samsung Electronics said in a statement. "Our device experience division performed better thanks to strong sales of flagship smartphones, and our display business improved to some extent due to new product launches."

Shoppers visit Samsung Electronics' Galaxy Studio at Times Square, Yeongdeungpo District, Seoul, in this picture provided by Samsung Electronics, Sept. 29. Yonhap

Samsung Electronics did not disclose a detailed earnings report of its business divisions, but the market forecast that the company's semiconductor business earned around 5.3 trillion won in operating profit for the third quarter.

Its memory chip business is expected to log 6 trillion won in operating profit, offset by continued losses from its foundry business.

Due to weak demand for its new foldable Galaxy Z smartphone series, the mobile division's operating profit is forecast to reach a lower-than-expected 2.5 trillion won for the cited period.

The display business is projected to deliver an operating profit of 1.5 trillion won, while the TV and home appliance division is expected to contribute up to 400 billion won.

The company will release its final earnings report later this month.

Right after the earnings guidance was released, Samsung Electronics issued an unusual apology for the disappointing performance.

"We, the management of Samsung Electronics, would like to express our sincere apologies to all of you for falling short of market expectations which has caused us to worry about our fundamental technological competitiveness and the future of the company," reads the statement under the name of Jun Young-hyun, head of the company's semiconductor division.

In the message to customers, investors and employees, Jun said the management team is responsible for the current challenging situation and will do its best to overcome the crisis and create an opportunity for a rebound.

It is the first time that the tech giant's top leadership has issued a message related to an earnings announcement.

The price of Samsung Electronics fell 1.15 percent to 60,300 won on the Seoul bourse, underperforming the broader Korea Composite Stock Price Index's 0.61 percent drop. (Yonhap)