Electronics giant Samsung has forecast a profit plunge of almost 60% in the last quarter but promised it would soon release a new range of smartphones with "innovative designs".
The South Korean firm is struggling to maintain dominance in the ultra-competitive smartphone sector.
It said estimated operating profit for the July to September period was 4.1 trillion won (£2.4bn), down 59.6% from the third quarter last year.
Samsung said sales were estimated at 47 trillion won (£24.9bn), down 20.4% from the 2013 figure.
Its phone sector has come under pressure because of increased advertising spend and lower retail pricing, squeezing margins for the firm.
Samsung said "operating margin declined due to increased marketing expenditures and a lowered average selling price, driven by reduced proportional shipments of high-end models coupled with price decreases for older smartphone models".
The company is the world's biggest smartphone maker and unlike key competitor Apple, produces its own components for devices.
It warned that uncertainty in the mobile sector would carry through into the fourth quarter.
But it promised to release a new range of top-end smartphones featuring "new materials and innovative designs".
The mobile market, which has been the key driver of Samsung profits in recent years, has become increasingly saturated.
In addition to Apple's 'bendy' iPhone 6 release, competition has intensified from cheaper Chinese handset makers such as Huawei and Lenovo.
In July, Samsung reported a 20% drop in net profit for the second quarter.
Shares in Samsung are currently sitting at a two-year low.
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