SEOUL (Oct 27): Samsung Electronics Co Ltd on Thursday said it aims to recover quickly from the disastrous withdrawal of the fire-prone Galaxy Note 7 that dragged third-quarter mobile earnings to their lowest in nearly eight years. Samsung said July-September operating profit was 5.2 trillion won (US$4.57 billion), matching its revised guidance. The South Korean firm had initially estimated a 7.8 trillion won profit but cut its guidance to reflect losses incurred in the withdrawal of the fire-prone Note 7s. "The mobile business expects a recovery in its earnings to a similar level with that of the fourth quarter of 2015." The semiconductor division reported a 3.37 trillion won profit for July-September, its highest since the third quarter of 2015.

Source: The Edge Markets October 27, 2016 03:16 UTC