Samsung Electronics on Wednesday revised down its preliminary figure for the third-quarter earnings to reflect losses after discontinuing its fire-prone Galaxy Note 7 smartphone.
Preliminary figure for the third-quarter operating profit was revised down to 5.2 trillion won (4.6 billion dollars) from its initial estimate of 7.8 trillion won unveiled recently.
It was down 29.63 per cent from the same period of 2015, also from the previous quarter, it was down 36.12 per cent.
Revenue was downgraded from 49 trillion won to 47 trillion won.
The third-quarter revenue was down 9.06 per cent from a year earlier, from the previous quarter, it fell 7.73 per cent.
The downward revision followed Samsung’s announcement on Tuesday to stop production, sales and replacement of Galaxy Note 7
…
Trending
- Lagos-Calabar coastal highway: Atiku accuses Tinubu of conflict of interest, says son on Chagoury’s board
- Police arrest fake worshipper stealing phones in churches in Ekiti
- Prince Harry, Meghan accept invitation to visit Nigeria
- Lagos market clash: Unions threaten to cut tomato supply
- Lawyers Alert trains NTBLCP staff on TB human rights response
- DAWN Commission convenes South-West education stakeholders for improved learning outcomes
- A rebirth for arts, culture, creative economy, by Deji Ayoola
- EFCC, Yahaya Bello and the law, by Ken Ugbechie