Samsung’s profits hit by Galaxy Note 7 recall

Smartphone-recall fiasco hits phone maker

30th October, 2016
Samsung’s profits hit by Galaxy Note 7 recall

Samsung’s latest quarterly results were hit by its recent smartphone-recall fiasco, with profits sliding.

“The mobile business saw its earnings decrease significantly quarter on quarter due to the effects of the discontinuation of the Galaxy Note 7. However, smartphone shipments remained solid, due to continued stable sales of its existing flagship devices.”

Samsung statement

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