Samsung Electronics on Tuesday estimated a 29 percent drop in its quarterly operating profit, falling short of market expectations.

The South Korean tech giant said in a regulatory filing that its operating profit is estimated at ten-point-eight trillion won for the fourth quarter last year, down 28-point-seven percent from a year earlier. 

Compared to the previous quarter, it represents a plunge of 38-point-five percent. 

It's the first time the quarterly operating profit fell below 14 trillion won since the first quarter of 2017. The operating profit was far below market expectations of 13-point-four trillion won. 

Sales slipped ten-point-six percent on-year to 59 trillion won over the cited period.