The first hard numbers on the Note 7 fiasco show 96% of Samsung’s mobile profits wiped out

This chart of Samsung’s mobile sales shows, for the first time, how much money Samsung lost in revenues during the period of the exploding Galaxy Note 7 fiasco.

Mobile sales are down 15%:

samsung

Samsung

That’s a loss of 3.85 trillion won (£276 million or $337 million) in sales.

For comparison, this time last year Samsung’s mobile sales were up 2%. That would imply that mobile revenues are down 17 percentage points from before the crisis.

Those lost sales are only the lost customers Samsung could have expected had the Note 7 not occasionally burst into flames. Recalling the device was so costly that operating profit for the company fell 30%, to 5.2 trillion won ($4.57 billion). Samsung’s mobile division saw operating profit of 100 billion won, a 96% drop from the year before.

Visit Markets Insider for constantly updated market quotes for individual stocks, ETFs, indices, commodities and currencies traded around the world. Go Now!

NOW WATCH: This Lego-style home can be built in a few weeks with just a screwdriver

The post The first hard numbers on the Note 7 fiasco show 96% of Samsung’s mobile profits wiped out appeared first on Business Insider.