The co-chief executive of Samsung Electronics issued an apology on Thursday after third-quarter operating profit tumbled more than 30 percent following the scandal linked to the now-recalled Galaxy Note 7.
Samsung posted an operating profit of 5.2 trillion won ($4.5 billion), in line with revised estimates given by the company earlier this month.
Pre-tax profit was down more than 19 percent at 5.97 trillion won in the July-September quarter, while net profit dropped almost 17 percent to 4.54 trillion won.
The company said increased sales of high-end products in its components business that makes memory chips and display panels helped to offset a sharp decline in its mobile business, which was hammered by the botched recall of its Note 7 device.
Following the earnings release, Samsung's co-chief executive, J.K. Shin apologized for the Note 7 debacle at a shareholders' meeting in Seoul, Reuters reported, adding he told shareholders the company would work hard to regain their trust.
In a regulatory filing, the South Korean tech giant said operating profits for the semiconductor business came in at 3.37 trillion won, helped by strong demand for memory chips.
The display panel business posted operating profits of 1.02 trillion won, boosted by increased earnings for OLED panels — which are used for displays on devices — and increased shipments of large-sized LCD TV panels. Samsung said it expects earnings from the components business to improve further in the October-December quarter.