Samsung Electronics Q1 net profit slumps 56.9%

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[SEOUL] Samsung Electronics, the world's biggest smartphone and memory chip maker, reported a slump in first-quarter net profits Tuesday, in the face of a weakening chip market. Read more at The Business Times.

It also has to contend with increasingly tough competition in the smartphone market from Chinese rivals like Huawei - which in 2017 surpassed Apple to take second place - offering quality devices at lower prices.

But last week it made a high-profile decision to delay the release of its US$2,000 foldable smartphone after reviewers provided with early devices reported screen problems within days of use.

 

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