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Note 7 failure: Samsung flags $5.3bn hit

The discontinuation of the Galaxy Note 7 phone will have ripple effects on Samsung’s operating profit for the next two quarters. ||| Seoul - Samsung Electronics on Friday said it expected to take a hit to its operating profit of about $3 billion over the next two quarters due to the discontinuation of its fire-prone Galaxy Note 7 smartphone. The outlook brings to about $5.
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