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Samsung's 1Q profit falls 4 percent as declining smartphone prices pose challenge
Reported by: Associated Press
Reported: Monday, April 7, 2014 8:00 PM EDT
SEOUL, South Korea
Samsung Electronics Co. says its January-March operating income has declined 4 percent over a year earlier.
The operating profit was in line with the median estimate by analysts surveyed by FactSet.
The profit decline shows the challenge for Samsung to continue its earnings growth in the face of falling prices of smartphones, its biggest cash cow that brings over two-third of its income.
Samsung, the world's largest maker of smartphones, televisions and memory chips, will announce its full financial results including net income later this month.