Samsung Enjoys An Increase of 50% Despite Note 7 Failure

The Samsung forecast at the end of the year 2016 shows that the company’s profits would come in 50% up on the same period in 2015, at around $7.8bn (£6.3bn).

Operating profit for the South Korean firm’s smartphone division fell 98% in the third quarter alone as the Note 7 fiasco took hold. It has since warned of extra costs topping $2bn.

However the company blamed the first recall on batteries provided by a particular supplier and assured customers it was using a different supplier for its replacement phones.

Samsung had blamed the first recall on batteries provided by a particular supplier and assured customers it was using a different supplier for its replacement phones.

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