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Samsung’s quarterly profit is up 58 percent from last year

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Samsung's guidance for its Q3 earnings is in, and the company expects an operating profit of $10.6 billion. That's up 58 percent from the year before. A detailed breakdown will come later, but Reuters reports analysts who suspect that higher mobile phone sales — probably more from midrange handsets than its just-launched high end devices like the Galaxy Note 20 — and graphics chips for new gaming consoles contributed to the results.

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