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Samsung Expects to Lose Around $3 Billion Due to Note 7 Recall
By: The Verge
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Samsung says the Galaxy Note 7 discontinuation will cost it around $3 billion over the course of the next two fiscal quarters. The device, which has a chance of overheating and exploding, has been plagued with problems since its launch back in August. After recalling millions of devices thought to have battery issues, Samsung began issuing replacement Note 7s to customers around the world. However, numerous cases of those replacement units catching fire in the US over the course of the last week prompted Samsung to announce a worldwide recall of all devices and cease production permanently. The company still can't pinpoint the cause of the problem.

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This article was published on The Verge. A link to the original article can be found after the post.
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