Samsung revises third quarter profit estimate down 33.3%
Samsung note 7
Seoul - Arab Today
Samsung Electronics on Wednesday slashed its third-quarter profit estimate by 33.3 percent, 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 ($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.
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