Samsung, LG tighten belts despite record earnings
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Samsung Electronics and LG Electronics have stepped up efforts to reduce costs as uncertainty grows over the second-quarter sales of their home appliances, even after both firms made handsome profits during the first quarter. Despite estimating that its first-quarter operating profit surpassed 57 trillion won ($38 billion), Samsung has not scrapped its February order requiring all executives in its Device Experience division, which oversees smartphones and home appliances, to fly economy class o
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