October 13, 2016 / 11:56 PM / in 9 months

Samsung expects another $3 bln hit to profit from Note 7 failure

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SEOUL, Oct 14 (Reuters) - Samsung Electronics Co Ltd on Friday said it expects to take a hit to its operating profit of about $3 billion over the next two quarters due to the discontinuation of its fire-prone Galaxy Note 7 smartphone.

The South Korean tech giant said in a statement it expected the blow to profit to be in the mid-2 trillion won range in the fourth quarter and about 1 trillion won ($897.06 million) for the first quarter of 2017. ($1 = 1,114.7500 won) (Reporting by Se Young Lee; Editing by Stephen Coates)

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