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Samsung expects in addition profit hit from note 7 fallout

Samsung expects in addition profit hit from note 7 fallout

Samsung expects further blows to its profits from the withdrawal of the note 7 smartphone, announcing sales will beaffected within the first zone of 2017.
The tech large had already revised down its third-region earnings guidance.

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On Friday, it said it expected an extra negative effect of around 3tn received ($2.7bn, £2.2bn).
The note 7 was recalled last month after battery fires, however while alternative phones experienced the same trouble, Samsung scrapped the device.
The top rate smartphone, launched in August, became intended to compete with Apple’s new iPhone 7 at the top cease of the phone market.
The revised outlook brings to extra than $5bn the entire losses the sector’s largest smartphone maker says it expectsbecause of the note 7 fiasco, after it stated on Wednesday it might suffer a $2.3bn hit to third-quarter profit.
Samsung cuts earnings forecast
Samsung: extra than a phone fire row

Samsung observe 7 flames out: specialists react

Timeline: Samsung’s note 7 woes
Rory Cellan-Jones: Samsung’s burning trouble

Samsung Note 7 image
A Samsung Note 7 handset caught fire during a lab test in Singapore

enhance product protection’

The company stated that in order to “normalise its cell business”, it might amplify sales of its different flagship devices,which include the Galaxy S7 and S7 facet.
“moreover, the organisation will consciousness on improving product safety for purchasers by using making large changesin its pleasant guarantee strategies,” Samsung said.
In September, the company recalled approximately 2.5 million note 7 devices after proceedings of overheating and exploding batteries.
It later insisted that every one replaced devices had been safe. but, that turned into accompanied by using reports thatthose phones had been catching fire too.
On Tuesday, the company stated it’d permanently give up production of the tool and urged owners to turn it off.

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