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Samsung's Profits Set to Explode After Note 7 Debacle

The Galaxy Note 7 nightmare is getting worse for Samsung, as the company reports that it is expected to lose $2.3 billion in profit this quarter because of the disastrous phone launch and subsequent recall. Read more...
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The company expects to pull in less money this quarter due to people seeking refunds for their now defunct phones.

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Smartphone maker Samsung has cut its profit forecast by 33%. It puts the blame squarely on its crisis with the Galaxy Note 7. The phone's batteries have been catching fire. Samsung now says its profit from July to September will be ...

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