Wednesday, October 12, 2016

Samsung lowers profit forecast by one-third, after Note 7-debacle – Volkskrant

With that adjustment screw Samsung winstperspectief for the summer months, with one-third back. Also the sales expectations have been reduced from 44 to 42.5 billion euros.

Cause of the financial blow is the failed launch of a new smartphone model, the Galaxy Note 7. The product came in mid-August on the market, but proved to be a fire hazard. Samsung has received reports of devices that spontaneously into flames or exploded. At the beginning of september saw the company forced 2.5 million copies of the Note 7 to recall it.

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