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Samsung Sees Phone Rebound After Earnings Miss Estimates

Samsung Electronics Co. forecast a recovery in sales after the world’s biggest smartphone maker posted second-quarter profit that missed analyst estimates on competition from Chinese makers and gains in the Korean won.

New products and demand for displays will boost results in the third quarter, the Suwon, South Korea-based company said in a statement today. Operating income fell about 24 percent to 7.2 trillion won ($7.1 billion) in the three months ended June, the company said, the third straight quarterly drop.