NEW YORK (TheStreet) -- Shares of several chipmakers that supply components to Samsung (SSNLF) for its smartphones and other mobile devices are slipping in early trade after the tech giant gave a lower than expected forecast for revenue and profit in its current quarter.

WHAT'S NEW: Last night, Samsung guided to preliminary third quarter operating profit of 4.1T won, which was sharply lower than the 10.2T won in profit it reported in the same quarter of last year and below the consensus expectation of 5.3T won. The company issued quarterly revenue guidance of 47T won, which would be down from 59.1T won last year and was below the consensus forecast of 50.8T won in sales. Samsung cited “intensified smartphone competition” as the primary driver of its miss and weaker demand for TVs was also mentioned as a factor.

ANALYST REACTION: Brean Capital analyst Mike Burton stated in a note to investors that expectations for Samsung were very low heading into the report given the competition in the high-end of the smartphone market from Apple (AAPL - Get Report) and the new iPhone 6 and 6 Plus. Burton said component suppliers RF Micro Devices (RFMD) , Skyworks (SWKS - Get Report) and Himax (HIMX - Get Report) have the most exposure to Samsung’s mobile business among the semiconductor stocks he covers. The analyst pointed out that Himax' exposure is not on the high-end of the smartphone market, where weakness was acute for Samsung. Burton also said the firm expects RF Micro Devices and Skyworks to benefit from Apple strength to offset China weakness, leading to results for both that are at-or-above consensus Wall Street estimates. Brean Capital keeps its Buy ratings on RF Micro Devices and Skyworks and its Hold rating on Himax.

OTHERS TO WATCH: More smartphone competition also impacted its baseband and OLED businesses, Samsung noted, according to Burton. Baseband suppliers include Broadcom (BRCM) , Marvell (MRVL) , and Qualcomm (QCOM) .

PRICE ACTION: In early trading, RF Micro slid 1.5% to $10.72, Skyworks dropped 1.8% to $53.12, Qualcomm fell 1.1% to $73.88, Broadcom was fractionally lower at $38.85, Himax shares were little changed near $9.35 and Marvell rose fractionally to $13.18.

Reporting by Jason Keil.

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