Galaxy Note 7 debacle blows £1.9bn hole in Samsung profits

Discussion in 'Market News' started by Lily, Oct 12, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    Company issues warning over third-quarter earnings after shutting down production of fire-prone phones

    Samsung has warned that profits will take a £1.9bn 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 5.2tn won (£3.7bn), down from previous estimates of 7.8tn won (£5.6bn).

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