Samsung Electronics Co expects sales of its new Galaxy S III, launched at the end of last month as a main rival to Apple's iPhone, to top 10 million during July, making it the South Korean group's fastest selling smartphone.
It also predicted earnings from its handset division would be higher in the current second quarter than in January-March, countering market concerns that tight supplies of the new Galaxy model and the weak global economy would pressure earnings at Asia's most valuable technology firm.
Shares in Samsung dropped 4.2 percent on Monday to a four-and-a-half month low, after more brokers cut their quarterly profit outlook, citing concerns over its chip and telecoms businesses. The benchmark KOSPI stock index was down 1.2 percent.
Profit from Samsung's mobile division nearly trebled in January-March to $3.6 billion, accounting for 73 percent of group operating profit.