Samsung slashes Q3 profit estimate by a third
The South Korean electronics giant cites fallout from scrapped Galaxy Note 7 smartphone
Samsung Electronics on Wednesday slashed its third-quarter profit estimate by 33.3%, citing fallout from the recall nightmare surrounding its scrapped Galaxy Note 7 smartphone.
The South Korean electronics giant filed a revised operating profit estimate of 5.2 trillion won (US$4.6 billion), compared to the 7.8 trillion won it announced just last week.
The company also slashed its third-quarter sales estimate by four percent to 47 trillion won from 49 trillion won.