The South Korean company said in a Tuesday earnings preview that its operating profit is estimated at
Sales rose 5 percent to
Analysts said Samsung's profits fell because its businesses supplying advanced displays and chips for iPhones and Galaxy smartphones posted smaller profits with slowing demand for high-end smartphones. They said Samsung's smartphone business making Galaxy smartphones and Galaxy Gear smartwatches was not as lucrative as before because of higher marketing costs.
"It's an earnings shock," said analyst
Samsung, which did not elaborate on its earnings preview, will disclose details of its earnings including net profit later this month.
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