Samsung forecasts further US$3b profit loss

October 14, 2016 | 08:27

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SEOUL: Samsung on Friday (Oct 14) estimated that the crisis over its exploding flagship Galaxy Note 7 smartphones would cost the company more that US$3 billion in lost operating profit over the next two quarters.

Samsung estimated that the crisis over its exploding flagship Galaxy Note 7 smartphones would cost the company more that US$3 billion in lost operating profit over the next two quarters. (AFP/George Frey)

"The negative impact is estimated in the mid-2 trillion won (US$2.2 billion) range for the fourth quarter of 2016 and at approximately 1 trillion won for the first quarter of 2017," the South Korean electronics giant said in a statement.

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