Exploding Galaxy Note 7 cannot dent Samsung's profit

South Korean Samsung‘s third quarter profit was higher than in its previous third quarter, despite the issues with the Galaxy Note 7 recall after several devices exploded.

Profit went up 5.5 %

Based on preliminary numbers, Samsung’s third quarter operational profit reached 7.8 billion won (6.3 billion euro), up 5.5 % compared to the year before. Turnover also grew more than 5 %, up to 49 billion won (39.5 billion euro).

The technology company managed these excellent numbers, despite issues surrounding its Galaxy Note 7 in September. Several of these devices exploded, forcing Samsung to call more than 2.5 million devices. The problems were offset thanks to good sales in parts, like memory chips and displays.

The company will publish its full third quarter results at the end of October. In its second quarter, Samsung managed its largest quarterly profit in the past two years, so investors and analysts will be looking to Samsung with much anticipation.