Samsung Predicts Its Biggest Ever Quarterly Profit despite Galaxy Note 7 Fiasco

The Galaxy Note 7 fiasco led Samsung to lose billions of dollars, but the company has tried everything possible to make its affected customers happy. Post the Note 7 debacle, Samsung did not release any new flagship phone except for re-releasing the Galaxy S7 edge in some new colors to cash in on the holiday season. And it looks like the company’s efforts have paid off as it has predicted in its Q4 earning guidance that it expects to post a consolidated operating profit of $7.2 billion.

That’s almost 50% higher than the $5.2 billion profit which the company had earned in the same quarter in 2015. If Samsung’s profits live up to its earning guidance, the company is well on track for its most profitable quarter in over three years. And this is despite the Galaxy Note 7 fiasco and Apple, Samsung’s biggest competitor, launching the iPhone 7 and iPhone 7 Plus.

The numbers posted by Samsung include all of its division including its smartphone division.┬áSamsung’s record profits are expected to be helped by the company’s chip division which is also expected to have generated its best ever quarterly profit in the previous quarter.

Whatever the case might be, after the Galaxy Note 7 fiasco, many analysts were quick to write off Samsung and expected the company to take over a year to recover from the fiasco. However, Samsung seems to have proven them wrong thanks to its clear communication and efforts to make things right.

[Via Samsung]