Samsung Electronics Co. said net income for the first quarter fell 39% over the previous year.
The company reported Wednesday that the revenue recorded between January and March were 4, 63 trillion won (4.350 billion dollars), compared with 7.49 billion earned a year earlier.
That figure is below the consensus of analysts, who expected earnings of 4.97 billion , according to financial data provided by Factset.
The higher than anticipated loss was due to a large decrease in the profit of the business of Samsung mobile technology. The maker of smartphones Galaxy said its mobile division generated 2.74 trillion won profit in the quarter, compared with 6.43 billion a year earlier.
Analysts estimate the company Korean Apple sold more smartphones in the quarter, but lost its market share against the US after the iPhone maker began offering models with larger screens.
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