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Samsung MX reports 14.5% YoY decline in 3Q24 profits, eyes AI and new mobile phone form factors for future growth

Samsung Electronics (Samsung) has released its financial report for the third quarter of 2024, revealing a 14.5% year-over-year decline in operating profit for its Mobile Experience (MX) division. While revenue from new products such as smartphones, tablets, and wearables contributed to growth, rising costs and inflation have dampened demand recovery, leading to decreased profitability.