Samsung earnings: Galaxy Note 7 burns profit

Samsung Electronics reported a 17 per cent slump in third-quarter profit after the demise of its fire-prone Galaxy Note 7 smartphone threw the world's largest smartphone maker into a crisis.

Ronald Matta, Published 10/27/2016

Business Smartphone

Samsung Electronics today announced financial results for the third quarter ended Sept. 30, 2016. Samsung's revenue for the quarter was KRW 47.82 trillion, a decrease of KRW 3.87 trillion from a year earlier, while operating profit for the quarter was KRW 5.20 trillion, a decrease of KRW 2.19 trillion.

Profit for Samsung's mobile division came in at 0.1 trillion won, plunched 96 percent year-on-year from 2.4 trillion won, and down 98 percent compared to last quarter's 4.32 trillion won profit for the division. A large drop in mobile profit had already been expected following the recall of the Galaxy Note 7 due to faulty batteries.

With the mobile division in decline, the profit centre for Samsung Electronics in Q3 2016 was the semiconductor division. This unit posted 4.4 trillion won in operating profit, a drop of 0.26 trillion won on this time last year. Revenue for semiconductors was up 3 percent. Samsung's display panel business saw a 6 percent drop.

Quelle(n)

http://www.samsung.com/us/aboutsamsung/ir/newsMain.do

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Ronald Matta - Senior Editor News - 14272 articles published on Notebookcheck since 2007

I have been an editor at Notebookcheck since 2007. As a freelance writer, I have also written for other print and online media, including contributing to the local press. Before becoming a journalist, I worked as a trained network technician in the planning and development of corporate networks, among other things, and as a fashion photographer based in Milan. As a former competitive athlete, my passion for technology and science is complemented by a passion for all kinds of outdoor sports. When it comes to specific subjects, I’m particularly interested in video, photography, smart homes, and wearables.

contact me via: @RonMatta

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Ronald Matta, 2016-10-27 (Update: 2016-10-27)

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