Galaxy Note 7 fi­asco likely to cost Sam­sung Sh1.72 tril­lion

The Star (Kenya) - - News -

REUTERS / Sam­sung Elec­tron­ics’ worst-ever re­call could cost the firm $17 bil­lion (about Sh1.72 tril­lion), after it halted sales of its flag­ship Galaxy Note 7 for the sec­ond time. The firm an­nounced the re­call of 2.5 mil­lion Note 7s in early Septem­ber fol­low­ing nu­mer­ous re­ports of the phones catch­ing fire. On Tues­day, the com­pany told mo­bile car­ri­ers to stop sales or ex­change of the $882 (about Sh89,328) de­vices. It also asked users to shut down their phones while it in­ves­ti­gates new re­ports of fires. If Sam­sung stops the sales, the firm will lose nearly $17 bil­lion it was hop­ing to make from 19 mil­lion phones, dur­ing the prod­uct cy­cle, ac­cord­ing to an­a­lysts.

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