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Samsung News Byte: Welcome to Apple's World: Samsung Tumbles Despite Record $8.3 Billion Q2 Profit

Wochit 1:11 mins

Samsung shares tumbled almost 4% as the company announced record second-quarter earnings that still missed analysts' sky-high consensus. The South Korean consumer electronics giant estimates that second-quarter 2013 profit came in at a record-high $8.3 billion on $50 billion in revenue, but analysts were looking for a quarterly profit of more than $8.9 billion. Smartphone leader Samsung Electronics Co Ltd is set to report a record $8.9 billion quarterly profit , even as growth in sales of its blockbuster Galaxy series begins to wane and new rivals emerge to eat away at its market share. Windows 8 failed to boost PC sales and now vendors are scrambling to find the next big thing. Companies such as Google, Apple, Samsung, LG and Microsoft are all said to be interested in wearable technology, and?according to The Guardian, Dell?is "exploring ideas in that space" as well.

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