Tech

The first hard numbers on the Note 7 fiasco show 96% of Samsung's mobile profits wiped out

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This chart of Samsung's mobile sales shows, for the first time, how much money Samsung lost in revenues during the period of the exploding Galaxy Note 7 fiasco.

Mobile sales are down 15%:

samsung
Samsung

That's a loss of 3.85 trillion won (£276 million or $337 million) in sales.

For comparison, this time last year Samsung's mobile sales were up 2%. That would imply that mobile revenues are down 17 percentage points from before the crisis.

Those lost sales are only the lost customers Samsung could have expected had the Note 7 not occasionally burst into flames. Recalling the device was so costly that operating profit for the company fell 30%, to 5.2 trillion won ($4.57 billion). Samsung's mobile division saw operating profit of 100 billion won, a 96% drop from the year before.

Needless to say, Note 7 cost Samsung 13.5% of its market share, which now stands at about 20% of all smartphones sold, according to IDC:

samsung
IDC

Strategy Analytics published some similar numbers indicating Samsung sold only 75.3 million phones, or 8.5 million fewer in the period than the prior year:

samsung
Strategy Analytics

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Jim is the former editor-in-chief of Insider's news division.Previously he was the founding editor of Business Insider UK.He has also been managing editor at Adweek, an advertising columnist at CBS Interactive, and a Knight-Bagehot Fellow at Columbia Business School. His work has appeared in Slate, Salon, The Independent, MTV, The Nation and AOL.His investigative journalism changed the law in the US First Circuit Court of Appeals (U.S. v. Kravetz), the Third Circuit Court of Appeals (North Jersey Media v. Ashcroft), New Jersey (In Re El-Atriss), and New York State (Mosallem v. Berenson).The US Supreme Court cited his work on the death penalty in the concurrence to Baze v. Rees, on the issue of whether lethal injection is cruel or unusual.He won the Neal award for business journalism in 2005 for a series investigating bribes and kickbacks in the advertising business.Here's a selection of his past stories:   • The alleged betrayal in these photos, texts, and emails cost Snapchat $158 million   • Inside the conspiracy that forced Dov Charney out of American Apparel   • The Evolution of Ev: The creator of Twitter, Blogger, and Medium has a plan to fix the mess he made of the internet   • THE "KNOCK-IN SHORT": Nigel Farage and the massive bet against the pound on the night of the Brexit vote   • eBay worked with the FBI to put its top affiliate marketer in prison   • How Dunkin Donuts ended up hiring a psychotic credit card thief as director of communications   • BEJEWELED: The definitive, illustrated history of the most underrated game ever   • The CEO of Publicis told us how he stared down a furious internal rebellion to bet the future of his $11 billion company on artificial intelligence   • FBX: The billion-dollar Facebook business that never happened   • The €150 million check-kiting scam that bankrupted Leo Burnett in Greece   • My Polaroids of the September 11 attacks led me into America's secret court system for terrorist suspects   • YouTube deleted 130 rap videos to help police fight street gangs responsible for thousands of stabbingsDisclosure: I own shares of Twitter (TWTR).