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BusinessSamsung Electronics expects smaller-than-expected Q2 profit as demand sags

Samsung Electronics expects smaller-than-expected Q2 profit as demand sags

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SEOUL — Samsung Electronics Co.’s string of record results is expected to end, as the global tech boom slows amid rising inflation and economic uncertainties.

On Thursday, the South Korean tech giant — which had reported record revenues in the past three straight quarters — forecast a 11.4% rise in second-quarter operating profit from the prior year. Revenue for the April-June period is expected to increase year-over-year by 20.9%.

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