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)
Nate Parker is finally thinking about the woman who accused him of rape
'Peep Show' fans, rejoice: Mitchell and Webb have a new comedy
Real estate publication skewered after bougie pro
Emma Watson had an awesome response to Trump becoming president
Visualizing July's astounding global temperature recordsHere's what 'Game of Thrones' actors get up to between takes
Warning: Contains some mild Season 6 spoilers right at the end (the video is spoiler-free).。LONDON -
...[详细]How to take a smartphone picture of the supermoon that isn't a blurry blob
A supermoon is a majestic sight -- a glowing orb that reminds us we are but human, here for a short
...[详细]7 video game escapes you desperately need today
Hey, video games. Remember those?Sometimes you just need to escape. We won't presume to guess at the
...[详细]Green Day chant against the KKK and Trump at the American Music Awards
In case Steve Bannon doesn't make it to the theater to catch a production of American Idiot, Green D
...[详细]Snapchat is about to explode in popularity, report says
Snapchat is about to have a couple of really good years. 。The company will see huge gains in the numb
...[详细]Global warming gobbled up a piece of sea ice the size of Alaska and Texas combined
Something strange and unnerving is happening in the Arctic: A chunk of sea ice bigger than the state
...[详细]You're likely tired of the Mannequin Challenge, but BAFTA just nailed it
LONDON -- As with most viral social trends, the Mannequin Challenge just keeps getting more and more
...[详细]I spent my morning at New York's new Taylor Swift Experience
Welcome to New York, now home of the Taylor Swift Experience. The small museum, dedicated entirely t
...[详细]The five guys who climbed Australia's highest mountain, in swimwear
Climbing a freezing cold mountain is already hard enough work. But in briefs? Nope. 。It's too late fo
...[详细]Why women in the UK just walked out of work
LONDON -- Women from all over the UK have just downed tools and left their workplaces in an act of p
...[详细]Major earthquake and multiple aftershocks rock central Italy
Escape the echo chamber: How to fix your Facebook News Feed
