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| Samsung expects further profit hit from Note 7 fallout | Samsung expects further profit hit from Note 7 fallout |
| (about 5 hours later) | |
| Samsung expects further blows to its profits from the withdrawal of the Note 7 phone, saying revenue will be affected in the first quarter of 2017. | Samsung expects further blows to its profits from the withdrawal of the Note 7 phone, saying revenue will be affected in the first quarter of 2017. |
| The tech giant had already revised down its third-quarter profit guidance. | |
| On Friday, it said it expected an additional negative impact of around 3tn won ($2.7bn, £2.2bn). | On Friday, it said it expected an additional negative impact of around 3tn won ($2.7bn, £2.2bn). |
| The Note 7 was recalled last month after battery fires, but when replacement phones experienced the same problem, Samsung scrapped the device. | The Note 7 was recalled last month after battery fires, but when replacement phones experienced the same problem, Samsung scrapped the device. |
| The premium phone, launched in August, was meant to compete with Apple's new iPhone 7 at the top end of the smartphone market. | The premium phone, launched in August, was meant to compete with Apple's new iPhone 7 at the top end of the smartphone market. |
| The revised outlook brings to more than $5bn the total losses the world's biggest smartphone maker says it expects as a result of the Note 7 fiasco, after it said on Wednesday it would suffer a $2.3bn hit to third-quarter profit. | The revised outlook brings to more than $5bn the total losses the world's biggest smartphone maker says it expects as a result of the Note 7 fiasco, after it said on Wednesday it would suffer a $2.3bn hit to third-quarter profit. |
| Samsung cuts profit forecast | Samsung cuts profit forecast |
| Samsung: More than a smartphone fire row | Samsung: More than a smartphone fire row |
| Samsung Note 7 flames out: Experts react | Samsung Note 7 flames out: Experts react |
| Timeline: Samsung's Note 7 woes | Timeline: Samsung's Note 7 woes |
| Rory Cellan-Jones: Samsung's burning issue | Rory Cellan-Jones: Samsung's burning issue |
| 'Enhance product safety' | 'Enhance product safety' |
| The firm said that in order to "normalise its mobile business", it would expand sales of its other flagship devices, such as the Galaxy S7 and S7 Edge. | The firm said that in order to "normalise its mobile business", it would expand sales of its other flagship devices, such as the Galaxy S7 and S7 Edge. |
| "Additionally, the company will focus on enhancing product safety for consumers by making significant changes in its quality assurance processes," Samsung said. | |
| In September, the company recalled about 2.5 million Note 7 devices after complaints of overheating and exploding batteries. | In September, the company recalled about 2.5 million Note 7 devices after complaints of overheating and exploding batteries. |
| It later insisted that all replaced devices were safe. However, that was followed by reports that those phones were catching fire too. | It later insisted that all replaced devices were safe. However, that was followed by reports that those phones were catching fire too. |
| On Tuesday, the company said it would permanently cease production of the device and urged owners to turn it off. | On Tuesday, the company said it would permanently cease production of the device and urged owners to turn it off. |