Samsung Expects Q3 Operating Profit Growth Amid Note7 Recall
- by Dan Gutierrez
- in Markets
- — Oct 12, 2016
However, revenue for the quarter is expected to fall 5.2 percent to 49 trillion won, the company said.
Samsung disclosed only overall estimates in its filing, and isn't scheduled to issue full results with details of how its business lines performed until late October.
The South Korean tech behemoth posted 7.8 trillion won in operating profit during the July-September period, up 5.55 percent from the same period of past year. According to financial data provider FactSet, analysts expected a figure of 7.5 trillion won.
When a replacement Galaxy Note 7 caught fire Wednesday morning on a flight bound from Louisville to Baltimore, Samsung declares that the investigation is still ongoing and there may be a reasonable explanation.
Korean-based Electronics giant Samsung has announced that it is anticipating its operating profits surge by 5.6% in the third quarter, despite the global recall of its Galaxy Note 7 smartphone.
This Galaxy Note 7 looks calm, cool and collected.
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The militant Palestinian Islamist movement Hamas said Mr Peres's death was the "end of the history of occupation". Peres was born Shimon Persky on August 16, 1923, in the small village of Vishniewa, Poland, to a merchant family.
India's civil aviation regulator last week eased restrictions on in-flight use of the new Samsung Galaxy Note 7 smartphone - but only those purchased after September 15.
Samsung released the Galaxy Note 7, the latest refresh of its premium large-screen smartphone, on August 19.
Samsung and the CPSC (Consumer Product Safty Commission) are still looking into the incident, but according to a report from The Verge, Brian Green's Note 7 that exploded on the Southwest flight was a replacement device. The owner of the device said that he already replaced his phone after the recall of the Note 7 devices for the battery issues.
Green picked up the new phone at an AT&T store on 21 September, the Verge said. While there were no injuries, the explosion of a replacement unit presented an even bigger problem.
Sprint put its policy in place after a replacement Galaxy Note 7 allegedly caught on fire aboard a Southwest Airlines plane this week.
