Samsung warns on profits after halting Galaxy Note 7 sales over fire fears
Samsung has warned that profits will take a £1.9 billion hit from pulling its Galaxy Note 7 smartphones off the market.
The South Korean firm said third quarter operating profit is expected to come in at 5.2 trillion won (£3.7 billion), down from previous estimates of 7.8 trillion won (£5.6 billion).
On Tuesday Samsung scrapped its flagship Galaxy Note 7 smartphone, a day after halting sales because of concerns over consumer safety.
The technology giant had delayed the launch of the Note 7 in the UK in September as it investigated and replaced faulty units that were overheating and... read more
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