Asia Tech Wire (Oct 8) -- A Samsung Electronics executive apologized for lower-than-market-expected third-quarter results.

Samsung Electronics announced Tuesday that it expects third-quarter sales to rise 17.2% year-on-year to 79.00 trillion won and third-quarter operating profit to rise 274.5% year-on-year to 9.1 trillion won.

However, Samsung's third-quarter operating profit was 11.7% below the average estimate, according to a previous survey by Yonhap Infomax.

Jun Young-hyun, head of Samsung Electronics' Device Solutions (DS) division, apologized for the lower-than-market-expected results by sending a message to customers, investors, and employee cadres on the same day after the release of the company's third-quarter results.

He said that all the responsibility lies with the top management leading the company's operations, and that he will take the lead in creating opportunities for the company's development in the future.