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Samsung expects big drop in first-quarter profits
Samsung Electronics expects first quarter profits to drop by more than 30 percent, marking the sixth straight quarterly decline at the company, which is struggling to compete with Apple at the top of the smartphone market.Operating profit for the quarter will be around 5.9 trillion won (US$5.4 billion), a drop of just over 30 percent versus the first three months of 2014, while revenue is expected to be 47 trillion won, down 12 percent, the company said in its earnings guidance. It will report its full quarterly results at the end of the month.The profits outlook isn’t as bad as analysts had feared.To read this article in full or to leave a comment, please click here