By Gia, | October 27, 2016
A burned Samsung Galaxy Note 7 smartphone.
The infamous Galaxy Note 7, which caused Samsung's fall from glory, has delivered its aftereffect as the Korean-based electronic giant suffered a huge decrease in its quarterly profit.
Samsung's operating profit went down by 30 percent year-on-year as a result of the defective Galaxy Note 7.
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"The Mobile business saw its earnings decrease significantly QOQ due to the effects of the discontinuation of the Galaxy Note7," Samsung's third quarter results said. "However, smartphone shipments remained solid due to continued stable sales of its existing flagship devices, including the Galaxy S7 and S7 edge, and steady growth in the mid-tier Galaxy A and J series."
Samsung announced a KRW 5.2 trillion ($4.6 billion) operating profit for the third quarter of 2016, a one-third difference from its earning in the same period last year. The electronic giant's revenue also equaled to KRW 47.82 trillion ($42.03 billion), another plunge by 30 percent year-on-year.
However, Samsung must pick up the pieces to rebuild and renew their reputation.
"Regarding the mobile business, the company will focus on expanding sales of new flagship products with differentiated design and innovative features, as well as regaining consumers' confidence," Samsung said in a statement.
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