Monday, September 12, 2016

Samsung Shares Tumble After Galaxy Note 7 Recall



If you are new to the Samsung Galaxy Note 7 recall saga, see link.

As a result of this, Samsung shares fell sharply on Monday, hitting a two-month low after the firm urged users not to use the Galaxy Note 7 phone and exchange the device due to fears it might catch fire. The South Korean company's shares dropped more than 6% on Monday. Samsung recalled 2.5 million phones last week after reports of the device exploding during or after charging.

Airline passengers were also warned by US authorities not to use or charge the phones while on board. Aviation authorities in several other countries and individual airlines have since then also banned the use of the devices on their flights.

Source: BBC

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