Sprint Will Let Samsung Galaxy Note 7 Owners Trade Replacement Devices

In a brief filing on Friday, the world's biggest smartphone manufacturer Samsung Electronics said that it expects its 2016 third-quarter profit to have increased by 5.6 percent, surpassing analysts' estimates.

In an earnings forecast that beat analyst estimates, Samsung said its operating profit for the July-September period would stand at around 7.8 trillion won (US$7.0 billion), compared to 7.39 trillion won a year ago. According to financial data provider FactSet, analysts expected a figure of 7.5 trillion won.

Revenue for the quarter likely fell 5.2 percent to 49 trillion won, the South Korean firm said, less than the Thomson Reuters StarMine SmartEstimate of 51.1 trillion won.

The company is due to disclose full results including its earnings and divisional breakdowns later this month.

Samsung's exploding Galaxy Note 7 doesn't appear to have hurt the company's earnings too much in the third quarter. Royal Mail reportedly refuses to ship Galaxy Note 7 units fearing incidents and there have been some reports indicating that Samsung could launch a second recall of the Galaxy Note 7.

Just when you think that Samsung's recall of the Galaxy Note 7 is all but settled, for some inexplicable reason there have been reports of users experiencing problems with the replacement units.

But they also said the damage would be outweighed by Samsung's other businesses, especially its sales of advanced computer chips and high-end smartphone displays. Samsung uses the lucrative OLED screens for its top-end phones, including the Galaxy S7 and Galaxy S7 Edge phones, whose sales were not affected by the Note 7 recall.

A new report by Recode shows that United States mobile carrier Sprint is now in talks with Samsung for creating an exchange program for the replaced Galaxy Note 7 units. He said the profit from Samsung's mobile business plunged to its lowest level in three quarters.

The combustion of the handset having taken place on a Southwest Airlines flight bound for Baltimore from Louisville raised concerns over the safety of the replacement Note 7, which Samsung guaranteed was "safe".

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