Home > Latest News > Samsung Q3 Operating Profit Forecast Cut Following Note7 Woes

Samsung Q3 Operating Profit Forecast Cut Following Note7 Woes

Following its decision to halt sales and production of the Galaxy Note7 smartphone, Samsung has released a revised earnings guidance for the 2016 third quarter, reducing its operating profit estimate by 2.6 trillion Korean won (around $3.06 billion).

Under its revised guidance, Samsung has estimated operating profit of approximately 5.2 trillion won and sales of approximately 47 trillion won for the quarter.

“After recent incidents and in consideration of our consumers’ safety, Samsung Electronics stopped sales, exchanges and production of the Galaxy Note7,” Samsung stated upon release of the revised guidance.

Samsung stated that the revised guidance “reflects the impact of this decision on the third quarter earnings”.

Samsung had last week originally advised that it expected operating profit of approximately 7.8 trillion won and sales of approximately 49 trillion won.

The figures compare to last year’s third quarter results of operating profit of 7.39 trillion won and sales of 51.68 trillion won.

Samsung Australia yesterday advised that it is extending its current recall of Note7 smartphones to all Note7s in Australia, including those provided as replacement devices.



You may also like
Older Samsung Units To Get One UI 7 Eventually
Tablet Market Rebounds With Apple In The Lead
Samsung Talks Up Pre Order Numbers But Not In OZ
Samsung Colour E-Paper
Samsung Unveils Colour E-Ink Paper Signage Range
Is Samsung Set To Join Trumps Stargate Project After High Level Pow Wow In Seoul Yesterday

Popular Posts

Australia Post Reaches Deal With Banks For More Funding And Rural Services
Latest News
/
/
Amazon Readies Its AI-Empowered Alexa
Latest News
/
/
Apple iPhone 16 and iPhone 16 Plus
Samsung Tipped To Increase iPhone OLED Display Production
Latest News
/
/
Microsoft Embroiled In European Search Engine Probe
Latest News
/
/
Old Smart Devices Loom As Massive Security Risks
Latest News
/
/

Digital Magazines

Recent Post

Australia Post Reaches Deal With Banks For More Funding And Rural Services
Latest News
/
//
Comments are Off
Australia Post which is key to the retail industry and online retailers when it comes to delivery services in rural...
Read More