Samsung shrugs off exploding phones fiasco with 50% profit increase

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The worst of the controversy surrounding Galaxy 7s may be behind Samsung now, after the tech manufacturer and retailer posted its highest quarterly profit increase in three years.

The South Korean company recorded quarterly profit of 9.2 trillion won (£6.27 billion) this week, a 50 per cent increase year-on-year.

This indicates that Samsung – which has several stores around the UK and trades online – can shrug off the £3.97 billion plunge in profits it experienced after it killed off the fire-prone Note 7. 


READ MORE: Samsung under intense pressure as Galaxy Note 7s continue to explode


On Monday, the company announced the results of investigations into what caused some of its Note 7 phones to catch fire, blaming batteries defects from two suppliers.

It also revealed plans to prevent it any similar controversy again.

Samsung is slated to release its brand new Galaxy S8 in the coming months.

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