Samsung Electronics expects to report a 50% increase in profits for the fourth quarter, despite the embarrassing worldwide recall of the Galaxy Note 7 smartphones.
The South Korean company said in its earnings guidance that it expects operating profits of 9.2tn won ($7.7bn) during the October to December quarter, up from a profit of 6.1tn won ($5.1bn) in the same period a year ago. Sales are expected to be 53tn won, or about $44.6bn.
Reuters reported that if the latest profit figure is confirmed, it would represent the highest quarterly profit reported by the company since the third quarter of 2013.
The company’s officials had earlier noted that write-offs associated to the Note 7 recall will amount to nearly $5bn.