Note7 disaster cuts Samsung Q3 profits by $2.3 billion

On a calamitous day for quarterly earnings guidance Samsung has written off 2.6 trillion Korean Won ($2.3 billion) on the back of its decision to pull the plug on the Galaxy Note7. Samsung Electronics issued Q3 2016 earnings guidance on 7 October of 49 trillion won in sales and 7.8 trillion won of operating profit. Then reports that the supposedly fixed Note7s were exploding started to come in and Samsung eventually decided to throw away the Note7 permanently.


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