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Published on October 12th, 2016 | by The GC Team

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Samsung revises Q3 earnings after ceasing Note7 production

Samsung Electronics has cut its earnings guidance for the third quarter after stopping sales, exchanges and production of its Galaxy Note7 smartphone due to incidents with exploding batteries.

In its revised guidance, the company said that consolidated sales were expected to be around KRW 47 trillion, with operating profit in the region of KRW 5.2 trillion.

Earlier this month the Korean manufacturer said operating profit was expected to be around KRW 7.8 trillion (up 5.6%) on sales of KRW 49 trillion.

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