Samsung’s Q3 2016 financial results are less than stellar. What was expected to be a flourishing three month period ended in flames, with the company recalling the Galaxy Note 7, its latest smartphone.
Samsung has announced its Q3 financial numbers and for the three month period ending September 30th, 2016 it earned $42.01 billion USD (47.82 trillion won), a decrease of $4.57 billion USD (3.87 trillion won) over the same period last year. The reason for the decline is due to the Galaxy Note 7′ discontinuation, but the company notes that smartphone shipments “remained solid due to continued stable sales of its existing flagship devices, including the Galaxy S7 and S7 edge.”
Looking ahead to 2017 and wiping 2016 off the map, Samsung says it will focus on launching new flagship smartphones with “differentiated design and innovative features,” as well as regaining customer confidence. In addition, Samsung plans to expand Samsung Pay (hopefully to Canada), rollout cloud-related services and introduce artificial intelligence related projects.
Samsung also notes it plans to produce “flexible displays to address demand for major smartphone customers.” There is no specific indication as to who those customers are, but it’s been rumoured in the past that Samsung has plans to launch a flexible smartphone in 2017.