Tuesday, 20 Feb 2018 | 03:09 pm (GMT)
Headlines :
  • New Iran sanctions appear as old sanctions lift for nuclear deal compliance
Sunday, 16 Oct 2016, 10:09 pm Zoom In Zoom Out No icon

Galaxy Note7 recall will cost Samsung $3.9 billion over the next six months

The leading smartphone maker - SAMSUNG revealed it will take up to $3.9 billion hit to its provit over the next six months alone due to the unprecedented recall of Galaxy Note 7 worldwide.

The South Korean tech giant today issued a statement announcing the “direct cost” of abandoning its potentially dangerous Galaxy Note7 phone would reach $3.9 billion over the next two quarters, with revenue down more than $2.3 billion over the next three months.

Samsung also revealed it would not quickly replace the Note7 phone with a different model, instead focusing on its flagship phones released in March.

“Moving forward, Samsung Electronics plans to normalise its mobile business by expanding sales of flagship models such as the Galaxy S7 and Galaxy S7 Edge,” the company said.