Shares of Samsung Electronics extend falls to more than 4 percent

SEOUL (Reuters) – Samsung Electronics Co Ltd’s shares extended falls to more than 4 percent after its second-quarter earnings estimates released on Friday failed to meet market forecasts, fuelling concerns about growth in its smartphone business.

Shares in Samsung Electronics were down 4.3 percent at 1.212 million won as of 10:05 p.m. ET, after falling to as low as 1.211 million won earlier in the session, a 10-month intraday low.

(Reporting by Jungyoun Park- Editing by Jacqueline Wong)