Samsung reports quarterly profits despite exploding Note 7 fiasco
Oct07
Samsung is going through some rough times, but that hasn’t stopped the company from turning a profit. Although the South Korean tech giant might spend as much as $1.8 billion following its worldwide recall of 2.5 million faulty Galaxy Note 7 devices, the company still expects an operating profit of approximately $7 billion for the third quarter of 2016. Despite the widely publicized controversy with exploding Note 7 phones, Samsung’s chip and display business is keeping the company afloat, ousting its mobile department as the company’s top-earning division. SK Securities analyst Young Woo Kim told AP that Samsung’s chip and display division has generated as much…
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