Samsung are currently facing a world of trouble thanks to the battery issues currently plaguing their new Note 7 smartphone. And it looks like it’s going to cost them.
Here’s how much Samsung stands to lose over the Note 7 recall
After it was first reported that certain Note 7 smartphones batteries were exploding, the company issued a global recall and eventually decided to halt sales of the Note 7 all together.
And all of this is bad enough for Samsung, but how much is all of this costing them?
The South Korean electronics giant says the recall will cost them approximately $3.1 billion over the next six months. This is in addition to the $1 billion that the first recall cost Samsung. And apart from the costs incurred by the two recalls, Samsung will naturally also suffer sales losses due to the Note 7 being pulled from the shelves. The company took as estimated $2.3 billion sales knock in third-quarter thanks to the Note 7.
All-in-all that’s a more than a $6 billion loss caused by exploding Note 7 batteries.
