Galaxy Note 7 recall could cost Samsung up to $1 billion

Samsung's global recall of Galaxy Note 7 smartphones could cost the company up to $1 billion.

@anthony256

Published Sep 6, 2016 11:35 AM CDT
Updated Nov 3, 2020 11:58 AM CST

49 seconds read time

Earlier this week, Samsung issued a global recall of its new Galaxy Note 7 smartphone, and since it announced the news before the weekend, the stock market hasn't had time to reflect. Well, those hours are ticking past, and we're now walking right into the warm arms of Monday morning.

Galaxy Note 7 recall could cost Samsung up to $1 billion | TweakTown.com

Bloomberg is reporting that Samsung has shipped around 2.5 million Galaxy Note 7 smartphones since its launch on August 19, and if every single one of them is replaced, it will cost Samsung around $1 billion.

If you are like me, and have purchased (and love) your Samsung Galaxy Note 7 smartphone, you can opt into returning it to your place of purchase. Obviously you don't need to do this, but Samsung has said that each and every Galaxy Note 7 is affected by the fault, so if you want to play it safe, get your Note 7 swapped over as soon as you can.

NEWS SOURCE:techspot.com

Anthony Garreffa

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering and has recently taken a keen interest in artificial intelligence (AI) hardware.