We got the best Samsung deals! Galaxy S24 Ultra, Watch 6, Z Fold 5 or, Z Flip 5.

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

Notifications
    News for you

    Samsung’s third quarter operating profit expected to drop by 8 percent

    Phone
    By 

    Last updated: September 22nd, 2016 at 12:39 UTC+02:00

    Samsung had a record-breaking second quarter this year primarily because the Galaxy S7 series proved to be a massive hit. The company intended on carrying that momentum forward with the Galaxy Note 7. The new flagship launched to rave reviews but ended up being sacrificed at the altar of a battery defect. The rest is history. The recall itself is expected to cost Samsung $1 billion and analysts have now formed a consensus on what it means for the company's third quarter. Samsung's operating profit is expected to decline by as much as 8 percent due to the Galaxy Note 7 recall.

    Analysts in South Korea believe that Samsung Electronics is going to bring in an operating profit of 7.4 trillion won ($6.7 billion) which will mark a decline of 8.6 percent when compared to the previous quarter. Samsung posted 8.14 trillion won ($7.23 billion) in operating profit in the second quarter of this year which happened to be its highest in two years.  This sequential estimate has been adjusted following the Galaxy Note 7 recall which was confirmed on September 2. Prior to the recall analysts were expecting status quo to be maintained, with many predicting as many as 8.5 trillion won in third quarter operating profit for Samsung.

    Samsung is currently replacing faulty Galaxy Note 7 units across the globe and is yet to officially resume sales. It has effectively been unable to sell its brand new flagship for more than a month and those who may have lost trust in the Galaxy Note 7 following the battery debacle may have spent their money elsewhere, on an iPhone 7 perhaps.

    Some analysts believe that the financial fallout could be even greater. Samsung is yet to provide its earnings guidances for Q3 2016 but we can surely expect to see the Galaxy Note 7 recall make a dent in its figures. However, analysts in South Korea predict that Samsung might stage a recovery in the fourth quarter as they factor in customer loyalty and the fact that battery issues notwithstanding, the Galaxy Note 7 is perhaps the best smartphone money can buy right now.

    Via Phone Galaxy Note 7Galaxy Note 7 recall

    You might also like

    Galaxy Note 7 fiasco might have given Oppo an important employee

    Galaxy Note 7 fiasco might have given Oppo an important employee

    Samsung and Oppo recently found themselves competing in the foldable phone market even though they barely operate in the same regions. However, OnePlus is an Oppo subsidiary representing its parent company in the foldable phone segment outside China. OnePlus's first Z Fold-like foldable device called ‘Open' is essentially the same Oppo Find N3 announced for […]

    • By Mihai Matei
    • 5 months ago
    Samsung no longer shies from remembering the Galaxy Note 7

    Samsung no longer shies from remembering the Galaxy Note 7

    Samsung doesn't pretend like the Galaxy S23 Ultra isn't the spiritual successor to the now-canceled Galaxy Note series. The company embraced this identity, and in some of its online stores for key regions, it even dedicated an entire “Upgrade your Galaxy Note” section on Galaxy S23 Ultra landing pages. In this section dedicated to Galaxy […]

    • By Mihai Matei
    • 9 months ago
    Samsung’s tomb of lost features is now looking sadder than ever

    Samsung’s tomb of lost features is now looking sadder than ever

    Samsung has removed a lot of features from its flagship products over the years.

    • By Mihai Matei
    • 3 years ago
    Galaxy S10+ screen protector almost perfectly fits a Galaxy Note 7

    Galaxy S10+ screen protector almost perfectly fits a Galaxy Note 7

    Remember the Galaxy Note 7? The last of Samsung's flagship smartphones with the traditional home button and big bezels met an unfortunate early demise, and the company moved on to the Galaxy S8 and introduced us to the Infinity display, which threw away most of that bezel and the home button for a higher screen-to-body […]

    • By Abhijeet Mishra
    • 5 years ago
    Here’s some explosive news: Galaxy Note 7 just got certified with Oreo

    Here’s some explosive news: Galaxy Note 7 just got certified with Oreo

    Samsung hasn't yet been able to release the Android 8.0 Oreo update for the one flagship it was able to fall back on when the Galaxy Note 7 met its untimely demise, but someone at the company sure had enough time to test Oreo on the discontinued Note 7 and send it to the Wi-Fi […]

    • By Abhijeet Mishra
    • 6 years ago
    Fact or fiction? Galaxy Note 8 has ‘most generous battery capacity’ of any Note series device

    Fact or fiction? Galaxy Note 8 has ‘most generous battery capacity’ of any Note series device

    Now, before you reach for those pitchforks, let me say that the words in the title aren't mine or one of my colleagues' at SamMobile. They come straight from Samsung, or at least from the company's Samsung Members app, from a section on official performance tips for the Galaxy Note 8. And, frankly, if we […]

    • By Abhijeet Mishra
    • 6 years ago