Seoul: 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 ($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. Samsung shares were up 0.5% in early trade after the results announcement, compared with a 0.4% gain for the broader market. The semiconductor division reported a 3.37 trillion won profit for July-September, its highest since the third quarter of 2015.

Source: Mint October 27, 2016 05:02 UTC