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Samsung profits increase by $3.6 million despite exploding phone fiasco

Samsung profits increase by $3.6 million despite exploding phone fiasco

Samsung has projected that its profits will beat previous estimates for Q3 2016 despite its recall operation surrounding defective Galaxy Note 7's.

It is expecting an operating profit of around $7 billion, with sales of around $44 billion. That figure is a $3.6 million increase year-on-year.

While its faced issues with the phone arm of its business, Samsung has likely been kept afloat by sales elsewhere, including its semiconductor manufacturing.

Sales on fire

Samsung had to recall its entire stock of Galaxy Note 7's after they were reported to catch fire during charging and regular use.

However, replacement phones have also been reported to overheat and ignite. One phone grounded a flight in Louisville after it set alight before take-off.

Replacement devices are also reported have been overheating in South Korea. There are also reports of phones exploding in China, where the phones were not recalled as they were believed to be safe.

[Source: The Verge]


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Ric is the Editor of PocketGamer.biz, having started out as a Staff Writer on the site back in 2015. He received an honourable mention in both the MCV and Develop 30 Under 30 lists in 2016 and refuses to let anyone forget about it.

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