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Samsung SDI posts operating loss in Q3 due to Galaxy Note 7
By 김영원Published : Oct. 27, 2016 - 17:33
[THE INVESTOR] South Korean battery maker Samsung SDI said in its preliminary regulatory filing on Oct. 27 that it posted 110.4 billion won (US$96.60 million) operating loss in the July-September period due to costs for the Galaxy Note 7 crisis.
Its revenue came in at 1.29 trillion won, down 2.1 percent from 27.2 billion won in the previous quarter.Samsung SDI, one of the main battery suppliers of Samsung Electronics‘ Galaxy Note 7, said it would buy back its own shares worth 300 billion won to boost shareholder value.
The sluggish sales of its EV batteries in China is one of the main reasons for the overall revenue drop. The company also said its electronic parts business’ revenue decrease 0.7 percent to 438.6 billion won during the same period.
By Kim Young-won (wone0102@heraldcorp.com)
