Samsung Electronics warns of difficult 2016 as smartphone market peaks

January 28, 2016 12:43 AM

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Samsung Electronics warns of difficult 2016 as smartphone market peaks

SEOUL Tech giant Samsung Electronics Co Ltd (005930.KS) on Thursday warned of possible weaker earnings this year compared with 2015 due to softer sales of gadgets such as smartphones, a trend that is also hurting rival Apple Inc (AAPL.O) and major chipmakers.

The South Korean firm's warning came a day after Apple shares fell more than 6.5 percent, the biggest percentage drop in two years, as the iPhone maker forecast its first quarterly sales drop in 13 years.

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