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Samsung earns $6.1 billion, shares plunge

People stand in front of a Samsung Electronics Co's showroom in Seoul, South Korea, Thursday, July 31, 2014. Samsung Electronics Co. reported a bigger-than-expected fall in second quarter profit on Thursday and said it was uncertain if earnings from its handset business would improve in the current quarter.(AP Photo/Ahn Young-joon)
People stand in front of a Samsung Electronics Co's showroom in Seoul, South Korea, Thursday, July 31, 2014. Samsung Electronics Co. reported a bigger-than-expected fall in second quarter profit on Thursday and said it was uncertain if earnings from its handset business would improve in the current quarter.(AP Photo/Ahn Young-joon)

By Associated Press 2 min read

SEOUL, South Korea (AP) – Samsung earned $6.1 billion last quarter but investors were dissatisfied, sending its share price down 4 percent. The panoply of numbers in its earnings report for the April-June quarter show why.

– MONEY SPINNER MALFUNCTIONS

Last quarter Samsung sold 18 million fewer handsets than 113 million in the first three months of the year. Smartphones and other handsets have previously contributed about 70 percent of Samsung’s profits. This quarter it fell to 60 percent.

– TABLETS TRAIL

Samsung sold 8 million of its Galaxy tablets, down from 13 million in the first quarter. Like other tablet makers, Samsung is finding it hard work convincing consumers to constantly upgrade to the latest model.