Friday October 07, 2016

Samsung Expects Steady Q3 Profit Despite Note 7 Recall

Wow. How much money does a company have to make to expect to rake in a $7 billion profit after the massive losses caused by the Note 7 recall? Damn, maybe Samsung need to design all their products to explode. eek!

Samsung Electronics expects operating profits of 7.8 trillion won and revenues of 49 trillion won for the third quarter of 2016, the company has said in its preliminary guidance. Operating profits are a jump of 5.55 percent compared to a year ago, but 4.18 percent lower than the previous quarter, when the company posted 8.12 trillion won, its highest in two years thanks to a revival of its mobile business.