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Tech giant Samsung profits forecast misses expectations

Tech giant Samsung profits forecast misses expectations
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Indications the tech industry could be in for a tough year. That’s one interpretation behind Samsung’s fourth quarter profits forecast.

The company said its operating profit likely rose 15 percent from a year earlier missing market expectations.

Preliminary figures show it will be just over five billion euros for the October to December period.

Slowing economic growth in China and weaker emerging market currencies are undercutting sales of consumer electronics and gadget components spelling trouble not only for smartphone market leaders Samsung and Apple but for their suppliers and the broader industry.

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