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Samsung Electronics forecasts $5.44bn in quarterly operating profit

  • Mobile phone maker Samsung has forecast a $5.44-billion quarterly operating profit for the January-to-March period, media reports said.

    Though the figures are better than market expectations, they would represent a drop of over 30% in profit compared to the previous year.

    The South Korean firm said that it expected sales worth $43.16 billion for the same period.

    The company’s mobile phone division faces tough competition from firms such as Apple and Xiaomi.

    Tagged as: Mobile phone maker, Samsung, profit, market expectations, South Korean firm, Apple, Xiaomi, business news