A Samsung “galaxy” of problems coming soon? BBC.com reports that Samsung Electronics has forecast a 60% fall in quarterly operating profit from a year ago because of slowing Samsung Galaxy smartphone sales.

The leading smartphone maker in the planet noted that it expects an operating income of $3.8 billion for the three months in September. The figure is caused by 20% decrease in sales.

“There are serious why this downward trend is worrisome,” notes Vlad Savov of The Verge, “but there’s no cause for fatalism.”

One slightly upbeat reaction to the news is to raise the recently slumping Samsung stock price. Savov’s story on The Verge quotes Claire Kim of Daishin Securities Co. as noting that “the market thinks this is the worst profit they can expect from its mobile business.”

Ewan Spence of Forbes, however, says that “Once a mobile manufacturer starts losing revenue and profit, it is invariably too late to save the company’s long-term position in the market.”

Samsung mobile division is its biggest business and the company has been struggling to maintain its dominance against rivals such as Apple and Chinese market leaders Xiaomi and Lenovo.

Samsung writes in its guidance, indicating the upcoming decrease in profits, that “as a result of declines in the mobile business due to intensified smartphone competition, which also had an adverse effect on the performance of the OLED and S.LSI businesses, and weak seasonal demand for the CE business, including TVs.”

BBC Technology Editor Rory Cellan-Jones says that:

“Samsung still has around 25% of the market, down from 33% a year ago, but a trio of Chinese firms Lenovo, Huawei and Xiaomi have rapidly grabbed a big slice. It was the whole Galaxy range which propelled Samsung's profits ever higher and phones like the latest Galaxy Note 4 still get glowing reviews.”

The problem though is, its famous Galaxy smartphone line has also been losing market share and smartphone shipments has only increased marginally amidst a lot of competition.

Jones says that the South Korean tech giant “hasn't managed to pull off the same trick as Apple, which continues to charge luxury prices and make chunky profits on its new phones.”