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Samsung Electronics' 2Q profit jumps 48 percent

7/26/2012

SEOUL, South Korea - Samsung Electronics said its second quarter profit rose 48 percent over a year earlier as customers flocked to get Galaxy smartphones in the absence of competitors.

The South Korean firm said Friday its net profit reached 5.2 trillion won ($4.5 billion) in the April-June quarter on revenue of 47.6 trillion won.

The earnings figure was a 3 percent rise from the previous quarter but was lower than a market consensus of 5.6 trillion won.

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