Samsung Electronics missed quarterly earnings forecasts on Friday as it reported a 47 percent rise in April-June operating profit to a record 9.5 trillion won ($8.3 billion), reviving concerns for growth in its smartphone business.
The guidance, released ahead of full quarterly results due on July 26, was worse than an average forecast of 10.16 trillion won in a poll of 43 analysts by Thomson Reuters I/B/E/S.
The South Korean firm is expected to report higher earnings in the current and fourth quarters as sales of its latest Galaxy S4 phone pick up and new products hit the stores.
But margins are widely seen easing as the rapid growth of the high-end smartphone market tapers off and consumers in countries like China opt for stripped-down cheaper devices.
"The slowdown in its handset business appears to be worse than expected and the disappointing result simply reinforces the market view that Samsung's smartphone growth momentum is slowing," said Lee Sei-chul, an analyst at Meritz Securities.
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"But it's got the component side of the business, which is showing solid improvements, and new handset product lineups for the third quarter, so (overall) earnings are likely to grow again in the current quarter."