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Samsung Electronics misses forecast on lower phone sales
Published in 31-7-2018
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SEOUL, South Korea (AP) Samsung Electronics Co. reported a lower-than-expected gain in the second-quarter earnings Tuesday, indicating an end to its streak of record-breaking financial results as sales of smartphones and display panels slowed while memory chip profit stabilized. The South Korean tech giant said that its April-June net income stood at 10.98 trillion won ($9.8 billion), up 2 percent from 10.80 trillion won a year earlier. The result fell short of the analyst consensus of 11.14 trillion won, according to financial data provider FactSet. Sales fell 4 percent to 58.48 trillion won ($52.3 billion) while operating income advanced 6 percent to 14.87 trillion won ($13.