Jan 6, 2017
Samsung profit surges despite Note 7 fiasco
The strong results are due to Samsung's semiconductor and display business. In its earlier profit forecast for the quarter, Samsung had said it anticipated a $2.1bn profit hit due to the recall. Samsung first issued a recall for the Galaxy Note 7 in September following complaints about exploding batteries. Samsung said that it will "Very soon" share details of its inquiry into the cause of the Note 7 problems. Samsung will disclose a detailed earnings release for the quarter in late January which will give more insights into the performance of its individual businesses.
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