Friday, 14 October 2016

Samsung expects further losses

Samsung expects further blows to its profits from the withdrawal of the Note 7 phone, saying revenue will be affected in the first quarter of 2017.
The tech giant had already revised down its third-quarter profit guidance .
On Friday, it said it expected an additional negative impact of around 3tn won ($2.7bn, £2.2bn).
The Note 7 was recalled last month after battery fires, but when replacement phones experienced the same problem, Samsung scrapped the device .
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