Samsung’s Q3 profits are way down after Note 7 recall

Samsung profits slipped significantly as a result of the Note 7 debacle, the company confirmed today in financial results for the third quarter of 2016. The results were in line with adjusted earnings guidance issued earlier this month, showing that the company made 5.2 trillion won (around $4.7 billion) in operating profit for Q3 — a year-on-year decrease of 2.19 trillion won (around $1.93 billion) — on revenues of 47.82 trillion won (around $42.1 billion).
The year-on-year drop of