Weak Apple iPhone sales are hurting Samsung

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Lower chip prices and a drop in demand for its OLED panels led Samsung to announce in a filing Tuesday morning that its first quarter profit won’t meet analysts’ expectations. It was just last week when the company said during its annual stockholder’s meeting that slower growth in the global economy, combined with weaker memory chip sales, would be a drag on earnings this year.
Samsung is scheduled to report its first quarter earnings next week. Market estimates provided by Refinitiv SmartEstimate call for the company to report an operating profit of 7.2 trillion won …

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