Samsungs mass recall of the Galaxy Note 7 smartphones worldwide over faulty batteries may cut the Korean companys 2016 second-half operating profit by about 820bn won ($738m, Â£554m) as per an analyst report. Another report says the total cost borne the company could well amount to $1bn. The company announced a global recall of the recently launched Note 7 smartphone last week after receiving close to 35 official complaints of malfunctioning most of which were related to batteries that caught fire while being charged.
Sep 8, 2016
- Mukesh Ambani to foray into aviation sector? May buy stake in Jet, bailout Maharaja
- Anil Ambani's RCom in limbo as deal with Mukesh's Jio snaps; court cases drag on
- Reliance Retail bid for UK-based Chinese toy chain Hamleys to help global foray
- SpiceJet to give hiring preference to employees of Jet Airways: Chairman
- Is Air India skidding down the same road that Jet and Kingfisher took?