Samsung Electronics Says Second Quarter Profit Likely Down 24.5%; Worst In 2 Years

(Reuters) - Samsung Electronics Co Ltd on Tuesday said operating profit likely fell 24.5 percent in April-June, its lowest in two years due to slowing growth in the company's cash cow smartphone business and the strength of the South Korean won. The world's largest smartphone maker has seen profit fall as competition heats up from Chinese makers of low-priced yet feature-heavy handsets, as the market's growth area shifts to low-end handsets in emerging economies.