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Note 7 recall burns Samsung's mobile earnings

  • The costly recall of its flammable Galaxy Note 7 dragged Samsung Electronics (OTC:SSNLF) to its lowest quarterly profit in two years, all-but erasing earnings from its mobile unit in the three months to October.
  • "We know we must work hard to earn back your trust," said Co-Chief Executive J.K. Shin, disclosing company considerations of a share buyback, talking up its semiconductor business and promising to consider proposals for a corporate makeover from hedge fund Elliott Management.

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Samsung Electronics Co., Ltd.