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Samsung expects another $3 billion hit to profit from Note 7 failure

October 14, 2016 by · Leave a Comment 

Samsung Electronics Co Ltd on Friday said it expects to take a hit to its operating profit of about $3 billion over the next two quarters due to the discontinuation of its fire-prone Galaxy Note 7 smartphone. The outlook brings to more than $5 billion the total losses the global smartphone leader has forecast as a result of the overheating issues, after it said on Wednesday it would suffer a $2.3 …

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Samsung expects another $3 billion hit to profit from Note 7 failure