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SEOUL, South Korea — The world's biggest smartphone maker is suffering a stunning financial decline in the face of intense competition from Apple and startup Chinese brands.
In a preview to earnings due out this month, Samsung said Tuesday its quarterly profit is estimated to have fallen to its lowest level in more than three years, dragged down by weak sales of its new Galaxy model.
Samsung became the biggest smartphone brand on the popularity of earlier Galaxy models. But the bigger screen on Apple's new iPhone 6 is luring away Americans who liked the bigger Galaxy, while in China, local brands are making inroads into Samsung's business. Read more...
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