Samsung’s mobile division profits fall by 96% in wake of Note 7 disaster

The South Korean manufacturer reported its earnings this week, and the results illustrate just how hard a hit the company took from its double recall of the Galaxy Note 7. Company-wide net profits fell 16.8% to $4 billion, while its mobile division reported a staggering 96% net profit loss year-over-year (from $2.1 billion in 2015 to just $88 million today).


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