Samsung Electronics has said that profits for the quarter are likely to be 60% down on last year, as slowing Galaxy smartphone sales take their toll.

The South Korean company, which is the world’s biggest mobile phone and TV manufacturer said that, in the three months to September, it expects operating income to total 4.1 trillion won ($3.8 billion; £2.5 billion) as opposed to analyst expectations of 5.2 trillion won.