Samsung earnings grow despite Note 7 recall
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Flight grounded by smoke from Samsung phone
Another Samsung product has overheated, this time aboard a Southwest Airlines flight.
Time
Despite a recall of its flagship Galaxy Note 7 smartphone, Samsung Electronics said Friday its earnings would grow in the third quarter.
The South Korean company said its operating profit would reach 7.8 trillion won, about $7 billion, compared to 7.4 trillion won in the same period last year. However, it said sales would fall to 49 trillion won, or $44 billion. That's down 5% from a year earlier.
The earnings figures were slightly higher than forecast by analysts.
Samsung made the announcement in an earnings preview released ahead of its full corporate results due later this month.
The world's largest smartphone maker recalled 2.5 million units of the Galaxy Note 7 after reports that its batteries were catching fire.