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Samsung Sees Profits Tumble

  • Cnet, Thursday, January 8, 2015 12:08 PM
Samsung apparently failed to right its ship, this past quarter. On the contrary, the mobile giant now expects its fourth quarter-earnings to reflect a nearly 40% decline in operating profit, year-over-year. “Samsung also estimates that its sales for the quarter likely fell about 12 percent year over year,” CNet reports, citing the company guidance on Wednesday. Chiefly to blame is increasing competition in the highly competitive smartphone market.

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