Samsung's Q3 results: Mobile profits down over 95% due to Galaxy Note7 debacle

Samsung has announced its financial results for the third quarter of 2016, and - as expected - the Galaxy Note7 fiasco has taken a huge toll on the company's profits.
The tech giant's mobile division reported an operating profit of KRW 0.10 trillion ($87.8 million), which is down 96% from the same time last year. That's also the lowest figure for the South Korean company in the past eight years.
The company's overall operating profit for the quarter stood at KRW 5.20 trillion ($4.5 billion), down KRW 2.19 trillion from the profit figure reported in Q3 2015. That's lowest for the company in past two years.
"The Mobile business saw its earnings decrease significantly QOQ due to the effects of the discontinuation of the Galaxy Note7," Samsung said in a press release.
"However, smartphone shipments remained solid due to continued stable sales of its existing flagship devices, including the Galaxy S7 and S7 edge, and steady growth in the mid-tier Galaxy A and J series."
For the fourth quarter, the company is expecting that the the year-end peak season and the popularity of the Galaxy S7 and S7 edge smartphones will help it achieve comparable YOY earnings. "As for 2017, the company anticipates a turnaround with the launch of new flagship smartphones."
Source

Comments

Post a Comment

Kindly Comment Only related to Post

Popular posts from this blog

Oppo R7s will reportedly also have a 4GB RAM option

Image
While we already knew that Oppo's upcoming R7s smartphone will have 3GB RAM, it has now been revealed that the device will also be offered in a 4GB RAM variant. For those who aren't in the know, other rumored specifications of the handset include Snapdragon 615 SoC, 5.5-inch FullHD AMOLED display, 32GB expandable internal memory, 13MP/8MP camera combo, and Android 5.1.1 Lollipop. It is also said to carry a bigger battery than the R7. The R7s is set to be unveiled during this year's Gulf Information Technology Exhibition (GITEX), which is scheduled to take place in Dubai from October 18 to 22. Via
Read more

Video shot on LG V20 details the advantages of Android 7.0 Nougat

Image
With no IFA to worry about, LG is setting up for its own September 6 party and it's cooking up some nougat - but the recipe is half about actual nougat and half about how awesome the new LG V20 will be. It will be the first phone to launch with Android 7.0 Nougat (no Nexus event yet). There's a heavy emphasis on multitasking - fast switching between apps (double tap the App switcher key), split pop-up video, quick notification replies, drag and drop between apps and more. The event will be held in San Francisco and Seoul and will come just after the bustle of IFA has died down. The V20 will have V10's secondary screen, its dual selfie camera AND G5's dual back camera for good measure. Other expected specs include a 5.7" QHD screen, Snapdragon 820 chipset with 4GB of RAM and a fingerprint reader. And as a demo of at least one of the four cameras, the promo video was shot on a V20. Looking at how smooth it is, even though it was shot handheld...
Read more

Huawei Mate 9 and Lenovo P2 now available in UK

Image
The Lenovo P2 with a mammoth 5,100mAh battery and Huawei's Mate 9 flagship smartphone are both now available for purchase in the UK. Carrier Three UK has both devices listed on its website. Specifically, the Mate 9 is available in Space Gray color option with 64GB storage. As for pricing, it's available on contract, with plans beginning from as low as £31.00 a month (£99.00 upfront.). Coming to the Lenovo P2, it's available in Grey color option with 32GB storage. Like the Mate 9, the P2 is also available on contract, with plans starting from £18.00 a month (no upfront). For more information, head to the Source links below. Source 1 2
Read more

Samsung Reveals the Galaxy Gear Smartwatch

Image
Offers voice-activated phone calls and text messaging. During its Unpacked 2013 Episode 2 event in Berlin on Wednesday, Samsung showed off the Galaxy Gear smartwatch . The device allows for hands-free calls, text messages, and emails without removing your synced Galaxy smartphone from your pocket. A 1.63-inch 320 x 320 AMOLED display is worked into six different colors of bands, and accepts simple swipes to complete tasks. Backed up by an 800 MHz processor, the Galaxy Gear includes a 1.9 megapixel camera. While there's certainly a question as to the durability of the lens--the camera is located on the side of the watch's band--the ease of taking a picture is certainly impressive. A quick downward swipe captures an image or video with the Memographer feature, and you can also record a quick voice memo for yourself into the Galaxy Gear. The Galaxy Gear syncs phone calls from your Galaxy smartphone, with communication requiring you to hold your hand up to your ...
Read more

September security update starts hitting T-Mobile Galaxy S7 and S7 edge

Image
T-Mobile has started pushing out a new update to Samsung Galaxy S7 and S7 edge units on its network. The carrier's website says that the update - which weighs in at over 350MB - brings latest security patches, changes related to time/date, and various system improvements. However a quick look at the official change-log reveals that the update includes Samsung Cloud, sync feature for video and photos, as well as back up and restore features for apps, home screen, music files, and documents. A could management menu has also been added. As is usually the case with OTA roll-outs, it may take time for the update to hit your device. Meanwhile, if you feel impatient, you can manually check for the update by heading to your handset's Settings menu. Source 1 2 | Via
Read more

Sony's Xperia D6503 Sirius camera screenshots leak out

Image
Recently, photographs of Sony's Xperia D6503 made the rounds on the internet. From the picture, the device looks almost bezel-less, suggesting that it has an extremely large screen, while perhaps maintaining manageable ergonomics. Today, we have some news on the rumored specs of the Sirius, along with screenshots of its camera interface. Someone who has managed to get their hands on the Sirius was able to upload screenshots of the 4K video app, the Creative Effect camera app, and the Timeshift video app. 4K Video * Timeshift Video * Creative Effect These won't be Sirius exclusives, however. With the latest Android 4.4.2 update rolling out for the Xperia Z1 compact , Xperia Z1 , and Sony Xperia Z Ultra , owners of the aforementioned handsets will get to enjoy the new camera features as well. Furthermore, the leaked screenshots showcase the different video capture quality options. The still image resolution options are showcased too. Video capture...
Read more