Samsung’s quarterly profits unaffected by Galaxy Note 7 recall

Samsung estimates that its profit rose more than expected in the July-September quarter, the Associated Press reported.

This is despite a recall of 2.5 million Galaxy Note 7 smartphones – which could cost the company as much as $1.8 billion.

The company’s profits were likely bolstered by its component businesses, which offset the cost of the recall.

Samsung said in its earnings preview that its third-quarter operating income increased 6% to 7.8 trillion won ($7 billion), compared with 7.4 trillion won a year earlier.

Sales declined 5% from the previous year to 49 trillion won ($43.9 trillion).

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Samsung’s quarterly profits unaffected by Galaxy Note 7 recall