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Samsung profit sags amid Chinese competition |
July 31, 2014
Samsung Electronics’ second-quarter profit fell nearly 20 percent as cheaper phones from Chinese makers sapped its sales and the market is waiting for Apple’s next iPhone.The Suwon, South Korea-based company said Thursday it posted a net profit of 6.25 trillion Korean won (about US$6.1 billion) for the quarter, down from close to 8 trillion won a year before.Revenue was over 52 trillion won, almost 9 percent down from the same quarter last year. Earlier this month, Samsung issued a revenue guidance in the range of 51 to 53 trillion won.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2460060/samsung-profit-sags-amid-chinese-competition.html#tk.rss_all
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