Samsung Sees $5.3 Billion Profit Impact From Note 7 Crisis
- New costs seen on top of $2.3 billion already announced
- Impact on profit in line with estimates from analysts
Samsung Sees Extra $3B Note 7 Hit
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The financial burden of Samsung Electronics Co.’s Note 7 crisis is becoming clearer, as South Korea’s largest company tallies the cost of recalling and terminating production of the fire-prone smartphone.
The Suwon-based company disclosed on Friday a negative impact of approximately mid-3 trillion won ($3 billion) on operating profit through March 2017, on top of an already announced $2.3 billion cut for the preceding period.