Samsung Aims to Outrun Smartphone Slump, Make Headway in China
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Samsung Electronics Co. is counting on demand for premium devices to drive double-digit growth in sales of marquee Galaxy phones in 2023, despite signs the global market may contract a second straight year. The world's largest smartphone maker, which warned this week that a record smartphone slump may persist well into 2023, expects to outpace the industry by focusing on quality components while gradually expanding in countries like China where it's lagged Apple Inc. Global smartphone shipments fell by the most in about a decade in 2022, but the market for high-end gadgets dominated by Apple and Samsung has held up better during the downturn. On Wednesday, Samsung took the wraps off the latest iteration of its closest iPhone competitor, the S23, with better cameras and batt...