Apr 29, 2015

Samsung's profit hit by bigger iPhones, sinks 39 percent

SEOUL, South Korea (AP) — Samsung Electronics Co. said its first quarter net profit plunged 39 percent as consumers switched to bigger iPhones, squeezing earnings from its mobile business to less than half from a year earlier. The company reported Wednesday that its January-March net profit was 4.63 trillion won ($4.35 billion), compared with 7.49 trillion won a year earlier. That was lower than...

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