Samsung’s botched launch and recall of its Galaxy Note 7 smartphone contributed to a 16.8% drop in third-quarter net profit, with more earnings effects ahead. Photo: APSEOUL—Samsung Electronics Co. wants to move on from the Galaxy Note 7. Doing so might not be easy. Two weeks after scrapping its fire-prone smartphone, the company on Thursday revealed a significant hit to its bottom line, pledged a “thorough” and “open” investigation into the phone’s problems and elevated third-generation heir apparent Lee Jae-yong to his first board seat. But problems remain for Samsung: It won’t have a new...

Source: Wall Street Journal October 27, 2016 11:31 UTC