Samsung profits soar after recovery from Note 7 debacle

Posted by on 7 April, 2017

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The costly Galaxy Note 7 debacle, which led to the recall of about 3 million smartphones because of overheating batteries, seems to be behind Samsung Electronics, with the company forecasting a 48 percent growth in operating profit in the first quarter.

Samsung has not had a new flagship smartphone on the shelves ever since it stopped production of the Note 7 in October after replacement phones shipped by the company were also found in some cases to have the battery issue. The company now has its hopes for the high-end of the smartphone market pinned on the new Galaxy S8 and S8+, which are expected to reach shelves later this month.

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