Samsung estimates Note7 fallout at about $3.1 billion

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Now that Samsung’s flagship Note7 phone is fully recalled and discontinued due to exploding batteries, two questions remain: Why, exactly, did this happen, and how will this impact Samsung financially?

On Friday, Samsung released an estimate on the latter, saying the it expects a “mid-3 trillion won” impact in operating profit for the fourth quarter of 2016 and the first quarter of 2017.

While “mid-3 trillion” is not a very precise figure, 3.5 trillion won translates to $3.09 billion, so that’s the number we’ll have to work with for the time being. …

More about Financial Fallout, Galaxy Note7, Samsung Galaxy Note7, Note7, and Samsung …read more

Via: Mashable: Business

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