Samsung Electronics third quarter profit falls 30 percent after Note 7 failure

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  • Workers take a billboard of Samsung Electronics' Galaxy Note 7 off from atop a building in central Seoul, South Korea, October 14, 2016. REUTERS/Staff

    Workers take a billboard of Samsung Electronics' Galaxy Note 7 off from atop a building in central Seoul, South Korea, October 14, 2016. REUTERS/Staff (Copyright Reuters 2016)

  • Shoppers walk near a Galaxy Note 7 advertisement at a Samsung store in Jakarta, Indonesia, October 14, 2016. REUTERS/Iqro Rinaldi

    Shoppers walk near a Galaxy Note 7 advertisement at a Samsung store in Jakarta, Indonesia, October 14, 2016. REUTERS/Iqro Rinaldi (Copyright Reuters 2016)

  • The logo of Samsung Electronic is seen at its headquarters in Seoul, South Korea, July 4, 2016. Picture taken on July 4, 2016.  REUTERS/Kim Hong-Ji/File Photo

    The logo of Samsung Electronic is seen at its headquarters in Seoul, South Korea, July 4, 2016. Picture taken on July 4, 2016. REUTERS/Kim Hong-Ji/File Photo (Copyright Reuters 2016)

Samsung Electronics Co Ltd <005930.KS> on Thursday said its operating profit fell 30 percent year-on-year in the quarter marred by the withdrawal of its Galaxy Note 7 smartphones, sinking to its lowest level in two years.

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The world's top smartphone maker said third-quarter operating profit was 5.2 trillion won ($4.57 billion), matching its revised guidance. The firm had initially estimated a 7.8 trillion won profit but cut its guidance to reflect losses incurred in the withdrawal of the fire-prone Note 7s.

Samsung's mobile division booked an operating profit of 100 billion won, the lowest since the fourth quarter of 2008.

(Reporting by Se Young Lee; Editing by Stephen Coates)