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Samsung's Q3 earnings will fall but sales to hit new high

Dan Nystedt | Oct. 8, 2010
<p>Samsung's guidance for Q3 earnings shows operating profit will fall from its record Q2.</p>

"With intensified competition throughout the digital media and mobile industries going forward, it may become a challenge to maintain current profitability levels," said Robert Yi, a vice president at Samsung, during the July call.

Some analysts have blamed slowing technology sector sales on sluggish global economic growth.

The International Monetary Fund on Wednesday (October 6) lowered its forecast for U.S. economic growth this year due to high unemployment and sluggish consumer spending. The organisation said U.S. gross domestic product (GDP) growth will likely reach 2.6 percent this year, down from its previous estimate of 3.3 percent.

 

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