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Samsung Electronics severely cut its estimated profits for the third-quarter Wednesday after it had been forced to entirely scrap its flagship line of Galaxy Note 7 smartphones each day earlier.
read more slashed its estimated profits by 33.3 percent from about $6.9 billion to $4.6 billion. The announcement came after Samsung shares on the South Korean stock market fell by nearly nine percent during the period of two days.
The business announced Tuesday it was shutting...
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