The shares finished 1.3% lower at 1,269,000 won in Seoul.
The world's largest smartphone producer announced Thursday that its operating profit in the January-March period was expected to reach around 6.6 trillion won (4.8 billion euros, $5.6 billion), up from 6.0 trillion won in the same quarter a year ago.
Greg Noh, an analyst at HMC Investment Securities, voiced doubts that the first quarter profit rise would be extended to the rest of the year. Initially expected to be Samsung's best-selling phones ever, sales fizzled following the launch.
SamMobile reports that the Galaxy Note 6 also will be as waterproof as the Galaxy S7 and Galaxy S7 edge, which had an IP68 rating, meaning they can be submerged in 1.5 meters of water for a half hour.
Revenue likely rose 4% to about 49 trillion won from 47.1 trillion won.
According to reports it's believed that Samsung sold 10 million units in the 20 days it was on sale in March, well ahead of predictions of 5 to 7 million units, but more remarkably three times higher than the number of Galaxy S6 phones sold in the 20 days post its release in April 2015.
"Samsung mid-level smartphones, especially the J series, have been doing quite well in emerging countries, especially in India", said Tarun Pathak, an analyst for Counterpoint Technology, noting that budget-tier products have driven volumes for the South Korean firm in recent quarters.
Samsung may be on the verge of executing a sudden turnaround in its financial fortunes after predicting a rise in its quarterly operating profits.
To revive margins, the Galaxy maker started mass production of more advanced dynamic-random-access-memory, or DRAM, from February. And so far, Samsung's managed to avoid the component shortages it suffered past year as a result of unexpectedly high demand for the S6 edge.
Better cost management is also likely to have played a role in driving Samsung's smartphone profits. The Taiwanese group, which includes Hon Hai Precision Industry Co., agreed to take control of Sharp, intensifying competition in a market Samsung leads.
The company seems to have picked its timing well, launching the Galaxy S7 devices a month earlier than usual while rivals like Apple and other rivals are between devices, and it got its ducks in line on the supply chain side of its business.
Still, cheaper panel prices may help drive sales of televisions.
"Samsung's DRAM shipment probably shipped slightly lower than our previous forecast but [the solid profits from semiconductors] must have come from them focusing on expanding profitability rather than increasing shipment", said Daishin Securities analysts Kim Kyung-min.
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Source: Samsung signals better profits, likely from Galaxy S7 sales
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