Samsung forecasts record profit but shares tumble

An employee of Samsung Electronics holds the Galaxy S4 LTE-A smartphones at a showroom of its headquarters in Seoul, South Korea, Friday, July 5, 2013. Even after setting a record high profit, Samsung Electronics disappointed investors who increasingly doubt its mainstay smartphone business can maintain rapid growth. Samsung Electronics Co. on Friday estimated its April-June operating profit at a record high of 9.5 trillion won ($  8.3 billion). But it fell short of forecasts by analysts who held higher expectation for the world's largest smartphone maker. (AP Photo/Lee Jin-man)SEOUL, South Korea (AP) — Samsung Electronics Co. reported record quarterly profit Friday but its shares tumbled on doubts its mainstay smartphone business can maintain rapid growth.


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