Samsung might spend as much as $1.8 billion recalling and replacing 2.5 million Galaxy Note 7s, but it still expects a 5.6 percent operating profit growth for the third quarter. According to the Korean chaebol, its profit will likely reach 7.8 trillion won ($7 billion) for July to September, up 400 billion won from the same period last year and 400 billion more than forecasts predicted.
Samsung Electronics expects a total hit in operating profit of about 3.5 trillion Korean won ($3.1 billion) in the final quarter of this year and first quarter of next year due to the discontinuation of its Galaxy Note 7 smartphone.
Korean electronics giant expects slight rise in operating profit for third quarter, but that doesn't appear to include recall costs.
Hundreds of South Korean Galaxy Note 7 smartphone owners filed a lawsuit against Samsung Electronics on Monday over its handling of the fire-prone device.
Samsung Electronics expects to report a slight gain in operating profit for the third quarter compared with a year earlier, even as the South Korean smartphone giant wrestled with a global recall of its premium Galaxy Note 7 smartph...