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High Profits for Samsung Electronics

Kevork Djansezian/Getty Images(NEW YORK) -- Samsung Electronics had a record-breaking second quarter. The world’s largest maker of memory chips, cell phones and flat-screen panels and televisions reports quarterly profits surged 80 percent.

Brisk demand for the high-end mobile phones helped Samsung offset a weaker profit growth in its semiconductor and other consumer electronics businesses. Samsung began selling the latest version of the Galaxy Smartphone six weeks ago, trying to get a head start before Apple announces a new iPhone.

Copyright 2012 ABC News Radio

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