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Samsung earnings plummet amid smartphone recall www3.nhk.or.jp
Samsung Electronics has reported a 96-percent drop in earnings from smartphones from July to September.
The South Korean mobile giant was forced to stop production and sales of its Galaxy Note 7 smartphones this month after reports that some were catching fire.
The phone was released in August.
Samsung's earnings report for the 3 months through September shows operating profit in the smartphone sector fell 96 percent to about 88 million dollars.
The firm's overall profit was down 30 percent.
At shareholders' meeting on Thursday, President Shin Jong-Kyun said the firm has received more than 200 reports on the smartphone defects.
Shin apologized to customers from around the world and said his firm will fully review its quality control procedures.
On Wednesday, South Korea's central bank said Samsung's problems are likely behind the country's slow GDP growth in the July - September quarter.
Analysts warn that the country's economy may continue to suffer from the Samsung fallout.
Published Date:2016-10-27
