Note 7 fiasco could burn a $17 billion hole in Samsung accounts
Samsung Electronics' (005930.KS) worst-ever recall could cost the company as much as $17 billion after it halted sales of its flagship Galaxy Note 7 for a second time, spelling an almost certain end for the ill-fated premium model.
Samsung announced the recall of 2.5 million Note 7s in early September following numerous reports of the phones catching fire and on Tuesday the crisis deepened: The company told mobile carriers to stop sales or exchange of the $882 device and asked users to shut off their phones while it investigated new reports of fires in replacement Note 7s.
As the world's... read more
- 16:42 Town’s defensive frailties exposed in Tiverton defeat
- 16:41 Man suffers facial injuries following Whitehaven incident
- 16:40 Chance to rent former Second World War aircraft hangar
- 16:40 Knocked out but spurred on: Cumbrian teens determined to make a...
- 16:39 Blackpool Zoo launches its new elephant house
- 16:39 US sanctions Iranian hackers for 'stealing university data'
- 16:39 Manchester City's big stars ended Luke Coulson's dream after 10...
- 16:37 Ayla’s first school flamenco
- 16:37 Traditional Good Friday parade to take place in South Shields
- 16:36 Let’s move to Eastbourne, East Sussex: ‘Things may be changing’
- 16:36 First non-stop flight between UK and Australia set for take-off
- 16:36 'I will not resign': Councillor's vow following disabled insult row
- 16:35 Supermarket chain makes £1.9 million investment and creates 15 new...
- 16:34 Explained: Four major mistakes Alan Pardew has made to West Brom's...
- 16:34 Liverpool goalkeeper linked with Newcastle United move - but would...
- 16:33 Keep off our land, indigenous women tell Ecuador's president
- 16:33 Officers remove bench in Salisbury where Skripals fell ill
- 16:33 Police inspector who dumped wife’s body in lake convicted of murder
- 16:32 Twenty-five England fans arrested in Amsterdam before friendly
- 16:33 Police inspector murdered his detective wife after she rumbled his...
- 16:32 Sunderland, Birmingham City, Middlesbrough, Derby County - Burton...
- 16:32 In Pictures: ‘Power grab’ protesters encricle Scottish Parliament
- 16:32 PROJECT UPDATE: Chorley’s new Youth Zone
- 16:31 A pedlar who was selling goods door-to-door without a certificate...
- 16:29 Ex-fracking protester changed sides to join protesters
- 16:28 Arsenal legend David Seaman makes huge Jack Wilshere prediction
- 16:27 England football fans arrested in Amsterdam after violent clashes
- 16:27 How Harvey Weinstein's accusers are fighting their way back to the top
- 16:27 Clean up your skatepark - or lose it
- 16:26 Olivier Giroud reveals this major frustration since joining Chelsea...