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Slowing smartphone sales hit Samsung profits

Samsung Electronics has been hit by falling sales for its smartphones and semiconductors.

The "difficult business environment and slowing IT demand" sent net profit for the fourth quarter to December down by 40 percent to KRW3.2 trillion (USD2.7 billion). Revenue for 2015 fell KRW5.6tn won to 200.6tn won (USD165.5bn) compared with the previous 12 months.

The South Korean giant warned it would be difficult to maintain profits this year at the same level as 2015.