Samsung expects another $3 billion hit to profit from Note 7 failure

Samsung expects another $3 billion hit to profit from Note 7 failure
 

Samsung Electronics Co Ltd on Friday said it expects to take a hit to its operating profit of about $3 billion over the next two quarters due to the discontinuation of its fire-prone Galaxy Note 7 smartphone.
The South Korean tech giant said in a statement it expected the blow to profit to be in the mid-2 trillion won range in the October-December period and about 1 trillion won ($900 million) for the first quarter of 2017.
The outlook brings to more than $5 billion the total losses the global smartphone leader has forecast as a result of the overheating issues, after it said on Wednesday... read more

 
14 October 2016 in Science &Technology, Views: 42
Source: Reuters
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