Scrapping Galaxy Note7 set to cost Samsung £4.4bn

Scrapping Galaxy Note7 set to cost Samsung £4.4bn
 

The South Korean firm said on Friday that the discontinuation of its flagship phone would cost the company about 3.5 trillion won (£2.5 billion) during the current and next quarter.
Samsung had already cut its third-quarter profit forecast by £1.9 billion earlier this week, an amount that could wipe out its entire mobile business profit.
On Tuesday, Samsung scrapped its flagship Galaxy Note7 smartphone, a day after halting sales because of concerns over consumer safety, with faulty units overheating and exploding due to a battery defect.
But Samsung has enough cash to absorb the shock from... read more

 
14 October 2016 in Regional West, Views: 31
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