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Tag: south korea economy

Samsung (Associated Press)

Samsung is Major Victim of Apple’s iPhone 6 Success

After Apple (AAPL) reported that it had sold $74.6 billion in products and earned a record corporate profit of $18.04 billion profit in a single quarter, Samsung Electronics admitted Thursday that much of Apple’s gain came at its expense. Korea’s former corporate juggernaut reported its lowest annual profit since 2011, with a 32% drop in quarterly profit, to $21.3 billion.