cdmagurus.com
10-27-2016, 12:20 AM
Samsung's smartphone division struggled to breakeven between July and September as sales plunged due to the recall of its high-end Note 7.
The smartphone giant said quarterly sales in its IT and Mobile Communications division were down 15 percent-on the same period last year to 22.5 trillion Korean won (US$19.8 billion) while operating profit crashed 95 percent to 100 billion won.
Problems with the Note 7 starting hitting sales shortly after it went on sale in mid-August. By early September, reports that several units had caught on fire prompted Samsung to begin a costly recall and replacement program. When it became clear that the replacements had the same problem, Samsung pulled the phone for good.
To read this article in full or to leave a comment, please click here (http://cdmagurus.com/article/3135840/phones/samsung-sales-profits-dive-on-note-7-recall.html#jump)
More... (http://www.pcworld.com/article/3135840/phones/samsung-sales-profits-dive-on-note-7-recall.html#tk.rss_all)
The smartphone giant said quarterly sales in its IT and Mobile Communications division were down 15 percent-on the same period last year to 22.5 trillion Korean won (US$19.8 billion) while operating profit crashed 95 percent to 100 billion won.
Problems with the Note 7 starting hitting sales shortly after it went on sale in mid-August. By early September, reports that several units had caught on fire prompted Samsung to begin a costly recall and replacement program. When it became clear that the replacements had the same problem, Samsung pulled the phone for good.
To read this article in full or to leave a comment, please click here (http://cdmagurus.com/article/3135840/phones/samsung-sales-profits-dive-on-note-7-recall.html#jump)
More... (http://www.pcworld.com/article/3135840/phones/samsung-sales-profits-dive-on-note-7-recall.html#tk.rss_all)