Summary Box: Samsung 3Q profit slides 23 percent

The Associated Press
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Visitors pass by a billboard of Samsung Electronics' Galaxy smartphone in Seoul, South Korea, Friday, Oct. 28, 2011. Samsung's net profit has slid 23 percent in the third quarter despite strong smartphone sales. (AP Photo/Lee Jin-man)

THE RESULTS: Samsung Electronics says net income fell 23 percent in the latest quarter.

THE REASON: Weaker demand for flat panels and computer chips offset booming smartphone shipments.

SURPASSING APPLE?: Jae Lee, a Daiwa Securities technology analyst, estimates that Samsung had shipped about 28 million smartphones in the third quarter and had surpassed Apple's iPhone shipments. Samsung says it doesn't provide figures on unit sales.