Samsung shares slide further after Note 7 crisis

Samsung shares slide further after Note 7 crisis
 

Shares in Samsung fell further on Tuesday after the smartphone maker said it would scrap production of its flagship Note 7 model.
Shares fell 3% on Wednesday's open, adding to an 8% fall yesterday after announcing it would cull the device.
The company has seen more than $20bn wiped off its market value in two days.
The Note 7 was recalled over exploding batteries in September but as new phones showed the same problems, Samsung scrapped the device entirely.
The drop in shares marks a one-month low for Samsung as concerns grew that the current crisis will go beyond the costs of the recall and... read more

 
12 October 2016 in Business, Views: 65
Source: BBC
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