Product development, manufacturing, distribution and marketing happen at such a blistering pace that there's no margin for error.

产品开发、制造、发布、营销都是以闪电般得速度前进，根本没有为犯错误留下余地。

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Samsung's phone division reported a 16.9 percent operating margin, which further takes account of marketing costs.

三星公司手机部报告称其运营差额在16.9%，这其中包括市场消耗。

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"Its operating margin is expected to fall in 2004 as marketing costs increase," says Mr Kim.

“预计随着营销成本增加，公司2004年的运营利润将会下降，”金先生说。

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Management did note first quarter earnings will fall 15% to 20% on margin pressures and increased marketing costs.

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Net earnings from operations are expected to decline approximately 15 percent- 20 percent in the first quarter due to gross margin pressure and higher marketing-related costs, to be followed by earnings growth in all subsequent quarters.

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With the company committed to cutting down on its Average Unit Cost and marketing, general and administrative expenses, we expect that the EBITDA margin for this division will gradually increase to around 25% by the end of our forecast period.

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