Samsung Bounces Back From Galaxy Note Debacle

Earlier today, Samsung Electronics released its preliminary earnings forecast for the third quarter of 2017. The Korean electronics conglomerate expects to have made an operating profit of 14.5 trillion won ($12.8 billion) off 62 trillion won ($54.7 billion) in revenue between June and September, which would make the past quarter the biggest in the company’s history.

If the preliminary figures are confirmed later this month, it would mark the second consecutive record-breaking quarter for the smartphone market leader (in terms of units that is), that just one year ago had hit one of the few low points in its recent history. In last year’s September quarter, the company’s profit had taken a massive hit after the newly released Galaxy Note 7 smartphone struggled with overheating batteries and had to be called back.

Today’s figures suggest that Samsung came out of that unfortunate episode pretty much unscathed as both of its flagship smartphones released this year have been well-received by consumers and critics alike. The question whether the company’s reinvigorated mobile division really is responsible for the huge jump in operating profit will be answered later this month, when Samsung releases its full earnings report.