Samsung sales and profits dive after Note7 recall

Samsung's smartphone division struggled to breakeven between July and September as sales plunged due to the recall of its high-end Note7.

The smartphone giant said quarterly sales in its IT and Mobile Communications division were down 15% on the same period last year to 22.5 trillion Korean won ($19.8 billion) while operating profit crashed 95% to 100 billion won.

Problems with the Note7 starting hitting sales shortly after it went on sale in mid-August. By early September, reports that several units had caught on fire prompted Samsung to begin a costly recall and replacement program. When it became clear that the replacements had the same problem, Samsung pulled the phone for good.

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