Samsung Galaxy S4 sales 'to disappoint'

The Samsung company, the world's largest smartphone maker, fell the most in over nine months in Seoul after analysts at JPMorgan Chase & Co cut profit estimates, citing slowing demand for its flagship Galaxy S4.

Orders for the S4 smartphone, which went on sale last month, are slowing on weak demand in Europe that may impact profit margins, analysts led by JJ Park said in a document dated yesterday, citing supply chain checks. JPMorgan cut its share- cost estimate for Samsung by 9.5 percent to one.9 million won & lowered its 2013 earnings estimates by 9 percent.

Compared to S3, S4 had stronger momentum in the first quarter of launch, the analysts wrote, affirming their fat rating on the stock. But the following quarterâs shipment is expected to be disappointing & its peak-quarter number seems way below our earlier estimates