Samsung Electronics warned that its second-quarter operating profit will likely miss analyst expectations, but issued an optimistic outlook for the third quarter. Samsung said it estimates its operating profit at 7.2 trillion won, or $7.1 billion, in the quarter, a 24% year-over-year drop. That's below analyst expectations according to Reuters, and marks its third straight quarter of declines. But looking ahead, Samsung says its new smartphone lineup and lower marketing expenditures should lead to a more positive outlook in the third quarter. The company's full quarterly results are expected later this month.

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