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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Finance

Finance

Samsung Predicts Profit Rise

It was just four months ago that Samsung had to recall its Note 7. However, the company believes that the fourth quarter of 2016 can get them back on track. For the fourth quarter earnings, Samsung expects to bring in an estimated 9.2 trillion won ($7.2 billion). That would double the fourth quarter profit from 2015.

While the Note 7 was part of the reason the sales were down, Samsung’s third quarter was the other reason. Samsung had high expectations for the third quarter before they had to recall the Note 7. With a hope for numbers like 7.8 won ($6.6 billion), Samsung ended up making 5.2 trillion won ($4.4 billion) instead.

Although the Note 7 was recalled, Samsung actually made good numbers. With orders for Galaxy S7, Samsung could have a pretty strong quarterly profit coming up. Since Samsung could be looking at the highest quarterly profit in the last three years, it’s only optimistic to think that the new Galaxy S8 could see promising numbers.

The Galaxy S7 recall might not have caused as much damage as it seems. It would also appear that Samsung reached its sales rise in other ways. Consumers purchased more memory and screens which are contributing factors. We can only watch and wait to see where new releases take the company this year.


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