Samsung Electronics said Friday that the discontinuation of the Galaxy Note 7 would cost the company about $3 billion during the current and next quarters, bringing the total cost of the recall to at least $5.3 billion.
Samsung has announced the permanent discontinuation of the Galaxy Note 7, with the global recall likely to cost the company $17 billion in lost sales.
Samsung Electronics Co Ltd said on Tuesday it will compensate component suppliers for the discontinued Galaxy Note 7 smartphones and consider giving them orders for other models to cushion the blow. The world's top smartphone maker ...
The tech company said Friday the smartphone's discontinuation cost would be around $3 billion, in addition to the previously announced costs.
Samsung Electronics expects a total hit in operating profit of about 3.5 trillion Korean won ($3.1 billion) in the final quarter of this year and first quarter of next year due to the discontinuation of its Galaxy Note 7 smartphone.