Samsung Electronics third-quarter profit falls 30% after Note 7 failure

Samsung Electronics Co Ltd on Thursday said its operating profit fell 30 percent year-on-year in the quarter marred by the withdrawal of its Galaxy Note 7 smartphones, sinking to its lowest level in two years. 

The world`s top smartphone maker said third-quarter operating profit was 5.2 trillion won ($4.57 billion), matching its revised guidance. The firm had initially estimated a 7.8 trillion won profit but cut its guidance to reflect losses incurred in the withdrawal of the fire-prone Note 7s. 

Samsung`s mobile division booked an operating profit of 100 billion won, the lowest since the fourth quarter of 2008.