Samsung expects record second quarter profits but analysts were hoping for more.
HONG KONG (CNNMoney)
Samsung learned that lesson Friday as the electronics maker issued its best-ever earnings guidance for the second quarter, but still fell short of analyst expectations.
South Korea-based Samsung said it would report operating profit of $8.1 billion to $8.5 billion for the three months ended June -- which works out to a minimum increase of 44% over the same period last year.
Sales were also higher than last year, rising a minimum of 18% to around $50 billion.
But analysts had expected even better results, and Samsung was rewarded with a 3.8% decline in shares traded on South Korea's marquee exchange.
Samsung is scheduled to deliver full results for the second quarter at the end of July.
Related: Want to invest in Samsung? Good luck!
Even with double-digit percentage jumps in sales and profit over the previous year, analysts remain worried about slowing shipments of the company's flagship Galaxy S4 model.
Like Apple, Samsung has found great success in catering to the high end of the market with the Galaxy S4, but some analysts believe the top tier of the market is becoming saturated.
Apple (AAPL, Fortune 500) is rumored to be creating a lower-end version of its smartphone to expand its share and better compete with No. 1 Samsung, whose phones run on the Android operating system from Google.
Samsung shares have lost around 12% this year, but it isn't the only handset maker to struggle. Apple shares have lost 21% of their value since January 1, while BlackBerry (BBRY) has lost 19% and fallen below $10 per share.
First Published: July 5, 2013: 4:59 AM ET
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