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Samsung Posts Second Straight Profit Drop on Lower Prices

Samsung Electronics Co., the world’s biggest maker of smartphones, posted its second straight decline in quarterly profit as stalling demand lowers prices for Galaxy devices and components.

Operating profit fell to 8.4 trillion won ($8 billion) in the three months ended March from 8.8 trillion won a year earlier, the Suwon, South Korea-based company said in a statement today. The result compares with the 8.3 trillion-won average of 29 analyst estimates compiled by Bloomberg.