Yerevan, 24.April.2018,
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Samsung operating profit plunges 30% in wake of Note 7 fiasco

South Korean technology giant Samsung has seen profits plunge after the recall of its Galaxy Note 7 smartphone.

Operating profit between July and September fell 30% from a year earlier to 5.2tn won ($4.6bn, £3.8bn) - the lowest level in two years.

The world's largest smartphone manufacturer stopped making the Note 7 after reports of them catching fire.

Meanwhile the firm's shareholders have backed Samsung heir apparent Lee Jae-yong joining the board.

He is grandson of the firm's founder Lee Byung-chull. and the son of Samsung chairman Lee Kun-hee.

The appointment is being seen as a major step towards his overall control of the family-run group.

But Mr Lee's appointment has raised some questions from critics who say he has not held any major role at the firm and was taking a place on the board through birth rather than by merit.

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