Samsung Electronics Posts Flat Second-Quarter Net Profit

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SEOUL—Samsung Electronics Co. reported flat second-quarter net profits, as a big drop in mobile phone profits dragged down results that were buoyed by its strength in memory chips.

The world’s largest handset maker ships one of every five smartphones globally. But consumers are holding on to their devices longer than before, and balking at price tags for new high-end phones at $1,000 or more.

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