As expected, Samsung's revenue and profit have fallen sharply in the third quarter of 2016, due to a painful recall of the company's flagship smartphone, the Galaxy Note7, due to combusting battery issues.
The company's revenue for the quarter was 47.82 trillion won ($41.9 billion), a year-over-year decrease of 3.87 trillion won ($3.39 billion), the company announced Thursday. Operating profit for the quarter has also declined sharply compared to last year -- 5.2 trillion won ($4.55 billion), a decrease of 2.19 trillion won ($1.91 billion).
SEE ALSO:5 awesome Android phones to replace your Galaxy Note7Samsung points out that, while its IT & Mobile Communications Division suffered due to the Note7 discontinuation, the Consumer Electronics Division achieved solid year-over-year earnings growth due to strong sales of SUHD TV sets and premium home appliances.
And while Samsung will still feel the burn from the Note7 fiasco in the next quarter, it expects to see a lot of improvement next year.
"Looking to 2017, the company will focus on achieving solid earnings growth through normalization of the mobile business while improving earnings for the components businesses through expansion of V-NAND and OLED panels," the earnings report says.
One of Samsung's key missions for next year when it comes to mobile is "regaining consumers’ confidence," and it will be interesting to see how, exactly, the company plans to go about that.
Samsung has recently started offering discounts on next year's Note8 and Galaxy S8 devices for customers who return their Note7 and replace it with a Samsung phone. Neither phone has been officially announced yet, but the move means Samsung is not ready to give up on the Note brand.
TopicsSamsung
(责任编辑：休閑)
Ivanka Trump's unpaid interns share cringeworthy financial advice
Clarity smart speaker has Alexa, Google Assistant, and a touchscreen
China comes down harder on Muslims, outlawing 'abnormal beards' and veils in public
Forget Tinder: This hot app wants to be your hookup for hooking upHere's what 'Game of Thrones' actors get up to between takesThis German startup wants to be your bank (without being a bank)
BERLIN -- “That is f*cking clever,” said Ben Floyd, 33, as we sat in a trendy cafe in Be
...[详细]Comedian brings kangaroo on stage in a harness, and animal lovers are angry
There was plenty of bewilderment online when a video of a kangaroo on a leash was shared last week.N
...[详细]This Google report about millennials is called 'It's Lit' and oh, IT. IS. LIT.
The Pentagon Papers. WikiLeaks. The Dead Sea Scrolls. The Rosetta Stone. The Magna Carta.And now: It
...[详细]There's been a big victory for LGBTQ workers in the fight against discrimination
It's been a long time coming, but LGBTQ workers are finallya step closer to being truly protected fr
...[详细]Watch MTV's Video Music Awards 2016 livestream
It's MTV Video Music Awards night. Are you ready?Kanye's going to be there, and he's going to say th
...[详细]Apple opens App Accelerator in India to foster iOS app development
Apple is taking further steps to foster the developer ecosystem in the world’s fastest growing
...[详细]This bathroom sign doesn't care about gender, as long as you wash your hands
There's plenty of ugliness surrounding the fight for trans people to use the bathroom that matches t
...[详细]5 pages from 'The Art of the Deal' that explain exactly what Trump's doing
President Trump has called his 1987 book, The Art of The Deal, the best selling business book of all
...[详细]Fyvush Finkel, Emmy winner for 'Picket Fences,' dies at 93
NEW YORK (AP) — Actor Fyvush Finkel, the plastic-faced Emmy Award-winning character actor whos
...[详细]Twitter kills egg avatar instead of hate speech and no this is not an April Fools' joke
Twitter is finally making some changes -- just not the ones we asked for.On Friday -- following the
...[详细]We asked linguists if Donald Trump speaks like that on purpose
Couple announces pregnancy in a perfect Bob Ross
