[The Register] Hey, you know what Samsung is also burning after the Note 7 fiasco?

The_Librarian

The_Librarian

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Hey, you know what Samsung is also burning after the Galaxy Note 7 fiasco? $2.3bn​

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The extraordinary cost of the Galaxy Note 7 recall and withdrawal has been revealed in the latest financial figures from Samsung.

On Wednesday, the company revealed its preliminary third-quarter earnings and slashed estimated operating profit from 7.8 trillion Korean won to 5.2 trillion won.

The difference is US$2.3bn, almost all of which can be attributed to the disastrous rollout of the company's new smartphone, the Galaxy Note 7; then a massive battery replacement program after a significant number of explosions; and then a complete recall and possible scrapping of the brand altogether after those replacements were also found to be faulty.
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Rest of the article is here : http://www.theregister.co.uk/2016/10/12/samsung_galaxy_note_7_cost/
 
They have also had some household appliances exploding in the US. That may eat into the profits a bit more.
 
On Wednesday, the company revealed its preliminary third-quarter earnings and slashed estimated operating profit from 7.8 trillion Korean won to 5.2 trillion won.

The difference is US$2.3bn
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Math taking a serious hit today... :erm:
 
The_Librarian said:
:D

Customer confidence in Samsung will be shaken, and it will take them a long time to recover from that...
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These things happen, and the company never flinched in its obligation. I'm still confident in their products and them as a company.
 
The_Librarian said:
I will not consider them again anymore. They have lost me as a customer.

I will rather take other products, just not Samsung.
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On the contrary, they have kept me as a customer. I have enjoyed their other products as being reliable and value for money. Their commitment towards customers during the exchange process and their willingness to discontinue the Note7 despite the costs really count in my book.

Everybody fuchs up from time to time. Samsung have bitten the bullet on the Note 7 but their other products remain as good as ever.
 
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