Reuters: Global Markets: Samsung Elec shares extend falls to more than 3 percent

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Samsung Elec shares extend falls to more than 3 percent Jul 5th 2013, 01:18 Tweet Share this Email Print Related News UPDATE 1-Samsung Elec estimates Q2 record profit, misses forecast 8:01pm EDT Samsung on track for record second-quarter profit as smartphone peak looms 7:36pm EDT Samsung rolls out OLED TV as production glitches linger Thu, Jun 27 2013 Samsung Elec shares down 3 percent on weaker earnings outlook Wed, Jun 26 2013 Tokyo court says Samsung infringed Apple 'bounce-back' patent Fri, Jun 21 2013 Analysis & Opinion Overrated interest How Huawei can dial down the fear factor Related Topics Hot Stocks » Asian Markets » A man holding an umbrella walks past an advertisment promoting Samsung Electronics' Galaxy S4 in Seoul July 4, 2013. Credit: Reuters/Kim Hong-Ji SEOUL | Thu Jul 4, 2013 9:18pm EDT SEOUL (Reuters) - Samsung Electronics Co Ltd (005930.KS) shares extended falls to more than 3 percent on Friday after releasing second quarter earnings estimates that came below market forecasts, reviving concerns for growth in its smartphone business. "The slowdown in its handset business appears to be worse than expected and the disappointing result simply reindorses the market view that Samsung's smartphone growth momentum is slowing," said Lee Sei-chul, an analyst at Meritz Securities. Shares in Samsung Electronics were down 3.11 percent at 1.276 million won, the lowest level in more than a week, as of 0110 GMT. (Reporting by Jungyoun Park; Editing by Stephen Coates) Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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