Samsung profit falls due to iPhone and Chinese companies

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Samsung (global) profit is expecting to fall up to 60% compared to last year’s profit.The company announced its operating profit for the third quarter will be down to between $3.6 and $4 billion, compared to $9.6 billion of the last year.

Apple’s latest iPhones, and low end phones by Chinese competitors like Xiaomi and Lenovo are snatching customers from Samsung.

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