SEOUL -- Samsung Electronics' semiconductor division substantially narrowed its operating loss in the fourth quarter of 2023 from the previous quarter, recovering gradually from a long slump in the chip industry that has sapped earnings at the South Korean technology company.

The world's biggest memory chip maker announced Wednesday that the company's device solutions unit, formerly known as the semiconductor division, posted an operating loss of 2.2 trillion won ($1.7 billion) for the three months through December, down from a 3.8 trillion won in red ink in the third quarter of last year.