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Samsung warns of sharp decline in sales, profits

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Samsung Electronics officials warned its sales and profits are forecasted to dip sharply.

The company is expecting its fourth-quarter sales to come in at $52.5 billion, an 11 percent drop, and operating profits to be $9.6 billion, a 29 percent fall.

Officials cited "lackluster demand in the memory business” and “intensifying competition in the smartphone business."

Read more from The Verge.

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