Samsung revises Q3 profit estimate down 33.3 per cent

Seoul: Samsung Electronics on Wednesday slashed its third-quarter profit estimate by 33.3 per cent, citing fallout from the recall nightmare surrounding its scrapped Galaxy Note 7 smartphone.

The South Korean electronics giant filed a revised operating profit estimate of 5.2 trillion won ($4.6 billion), compared to the 7.8 trillion won it announced just last week.

The company also slashed its third-quarter sales estimate by four per cent to 47 trillion won from 49 trillion won.