Samsung reports rise in profits despite exploding Galaxy Note 7 saga

Samsung has forecasted a 5pc rise in profits despite fears that the recall of 2.5m Galaxy Note 7 phones could damage sales.

As the mass recall of its new flagship smartphone continues, Samsung says its operating profits will have increased in the third quarter.

In its latest earnings guidance, the South Korean electronics anticipates profits will have risen 5.6pc to 7.8tn won (£5.7bn) in the July to September period.

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