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Samsung forecasts slower Q4 after smartphones drive jump in Q3 results

2020-10-29 08:33:00| Telecompaper Headlines

(Telecompaper) Samsung Electronics reported a strong increase in third-quarter results, led by a 50 percent sequential increase in mobile phone sales. While demand recovered in Q3 from the Covid-19 effects earlier in the year, Samsung said it expects profit to fall in Q4, amid weakening memory chip demand from server customers and intensifying competition in mobile phones and consumer electronics.

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