October 14, 2016 / 12:26 AM / 9 months ago

Samsung Electronics shares up after it sees more profit hit from Note 7

1 Min Read

Signage is seen at the Samsung 837 store in the Meatpacking District of Manhattan, New York, U.S., October 10, 2016.Andrew Kelly

SEOUL (Reuters) - Shares of Samsung Electronics Co Ltd traded slightly higher on Friday morning after the South Korean electronics giant said it expected to take a greater profit hit from the demise of its fire-prone Galaxy Note 7 smartphones.

Samsung shares were up 0.8 percent as of 0008 GMT, versus the wider market's 0.6 percent gain.

Samsung said it expected to take a hit to its operating profit of about $3 billion over the next two quarters due to the discontinuation of the Note 7.

Reporting by Hyunjoo Jin; Editing by Stephen Coates

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