Be the first, order the brand new Galaxy S24 FE, Galaxy Tab S10 Ultra, order the KING Galaxy S24 Ultra!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

News For You
News For You
Notifications

Samsung now expects to lose an additional $3 billion because of the Galaxy Note 7

Phone
By 

Last updated: October 14th, 2016 at 04:42 UTC+02:00

Samsung has already revised its operating profit forecast for the third quarter of this year, estimating that it will lose $2.3 billion as a result of the Galaxy Note 7 discontinuation. The company has said today that it now estimates to lose mid-3 trillion won ($3 billion) in operating profit from the fourth quarter of this year through the first quarter of 2017 because it has had to cancel its flagship smartphone.

Analysts have estimated that the Galaxy Note 7 fiasco is going to cost Samsung around $17 billion. By the company's own admission the financial impact of the crisis is going to be over $5 billion and it may very well get there. Samsung says that it expects this drop from discontinued sales to have a negative impact on operating profit for the next two quarters. Samsung also says that it's going to “normalize” its mobile business by expanding sales of the Galaxy S7 and the Galaxy S7 edge. It also promises to enhance product safety for consumers by “making significant changes in its quality assurance processes.”

Source Phone Galaxy Note 7
Galaxy AI summarized

Scroll for more related content
News For You

You might also like

Galaxy S25 Ultra is inspired by the Galaxy Note 7 in one way

Galaxy S25 Ultra is inspired by the Galaxy Note 7 in one way

It was widely rumored that Samsung would bring significant changes to the Galaxy S25, both internally and externally. It has already been revealed that major camera upgrades are coming to the Galaxy S25 Ultra. Now, some tidbits about the phone's external design have been revealed, and it is good news for those who didn't like […]

  • By Asif Iqbal Shaik
  • 4 months ago
Galaxy Note 7 fiasco might have given Oppo an important employee

Galaxy Note 7 fiasco might have given Oppo an important employee

Samsung and Oppo recently found themselves competing in the foldable phone market even though they barely operate in the same regions. However, OnePlus is an Oppo subsidiary representing its parent company in the foldable phone segment outside China. OnePlus's first Z Fold-like foldable device called ‘Open' is essentially the same Oppo Find N3 announced for […]

  • By Mihai Matei
  • 12 months ago
Samsung no longer shies from remembering the Galaxy Note 7

Samsung no longer shies from remembering the Galaxy Note 7

Samsung doesn't pretend like the Galaxy S23 Ultra isn't the spiritual successor to the now-canceled Galaxy Note series. The company embraced this identity, and in some of its online stores for key regions, it even dedicated an entire “Upgrade your Galaxy Note” section on Galaxy S23 Ultra landing pages. In this section dedicated to Galaxy […]

  • By Mihai Matei
  • 1 year ago
Samsung’s tomb of lost features is now looking sadder than ever

Samsung’s tomb of lost features is now looking sadder than ever

Samsung has removed a lot of features from its flagship products over the years.

  • By Mihai Matei
  • 4 years ago
Galaxy S10+ screen protector almost perfectly fits a Galaxy Note 7

Galaxy S10+ screen protector almost perfectly fits a Galaxy Note 7

Remember the Galaxy Note 7? The last of Samsung's flagship smartphones with the traditional home button and big bezels met an unfortunate early demise, and the company moved on to the Galaxy S8 and introduced us to the Infinity display, which threw away most of that bezel and the home button for a higher screen-to-body […]

  • By Abhijeet Mishra
  • 6 years ago
Here’s some explosive news: Galaxy Note 7 just got certified with Oreo

Here’s some explosive news: Galaxy Note 7 just got certified with Oreo

Samsung hasn't yet been able to release the Android 8.0 Oreo update for the one flagship it was able to fall back on when the Galaxy Note 7 met its untimely demise, but someone at the company sure had enough time to test Oreo on the discontinued Note 7 and send it to the Wi-Fi […]

  • By Abhijeet Mishra
  • 6 years ago