Samsung has announced its third quarter results, the company had revenue of KRW 47.82 trillion for the quarter, this was down KRW 3.87 trillion over the previous year.
Samsung explained in its earnings release that its earnings and its profit were down due to the Galaxy Note 7 recall.
Samsung Electronics today announced financial results for the third quarter ended Sept. 30, 2016. Samsung’s revenue for the quarter was KRW 47.82 trillion, a decrease of KRW 3.87 trillion YOY, while operating profit for the quarter was KRW 5.20 trillion, a decrease of KRW 2.19 trillion YOY.
For the IT & Mobile Communications Division, earnings declined due to the Galaxy Note7 discontinuation. However, the Consumer Electronics Division achieved solid earnings growth YOY driven by strong sales of SUHD TVs and premium home appliances.
You can find out more details about Samsung;s third quarter earnings at the link below, the company is expecting quarter four to improve.
Source SamsungFiled Under: Technology News