Samsung Electronics has cut its estimates for its third quarter operating profit and sales to five-point-two trillion won and 47 trillion won, respectively.

Samsung projected just last week that its operating profit for the July-September period could reach seven-point-eight trillion won, and sales 49 trillion won.

The revised figures for its operating profit and sales represent a decrease of 33 percent and four percent respectively compared to the previous estimates.

Samsung said the revised figures fully reflect direct costs related to the permanent end of the Galaxy Note 7 smartphone.

According to the revised estimates, Samsung’s third quarter sales dropped nine-point-06 percent, while its operating profit plunged 29-point-63 percent year-on-year.

Compared with the previous quarter, sales shrank around seven-point-seven percent and operating profit dipped 36-point-one percent.