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Samsung Predicts Galaxy S6 Will Help Reverse Earnings Slide
Samsung 1Q Profit Slumps 40% on Smartphone Sales
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Samsung Electronics Co. expects the new Galaxy S6 devices to reverse declining earnings and spark profits from its smartphone and components businesses. Shares rose on the prediction.
Samsung trumpeted the coming revival on Wednesday after reporting its fourth straight quarterly drop in net income. Consumers have been switching to Apple Inc.’s larger iPhones and cheaper Chinese devices as the rising South Korean won makes Samsung products more expensive abroad.