Scrapping Galaxy Note7 set to cost Samsung £4.4bn



Samsung has warned that the total cost of pulling its Galaxy Note7 smartphones off the market will be at least £4.4 billion.
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... read more

 
14 October 2016 in Regional East, Views: 26
Source: Belper News
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