SEOUL, Oct. 17 (Korea Bizwire) – Samsung Electronics Co. and the South Korean government have launched their own investigations to figure out what caused Galaxy Note 7 smartphones to catch fire after the tech giant halted its sales over recurring battery problems, industry officials said Sunday. Samsung has been investigating components of its latest flagship [...]
SEOUL, Oct. 14 (Korea Bizwire) – Samsung Electronics Co. said Friday that the discontinuation of the Galaxy Note 7 smartphone is expected to dent the company’s operating profit by additional US$3.1 billion over the next two quarters. Samsung already slashed its estimate for third-quarter operating profit by 2.6 trillion won ($2.3 billion), saying the revision [...]
SEOUL, Oct. 13 (Korea Bizwire) – International ratings agency Standard and Poor’s said Thursday the global recall and discontinuation of the Galaxy Note 7 smartphone will not affect its ratings on Samsung Electronics Co. “We believe the impact on the ratings will be limited at this stage” mainly due to Samsung’s significant net cash holdings [...]
BANGKOK, Thailand, Oct. 13 (Korea Bizwire) – The recent Samsung troubles have weighed heavily on Vietnam’s exports, as the country serves as one of the major production hubs for the smartphone giant. According to a local source, Vietnam’s September exports amounted to $15 billion, a 6.8 percent decline from August, while exports specific to smartphone [...]
SEOUL, Oct. 13 (Korea Bizwire) – Owners of the Galaxy Note 7 in South Korea on Thursday started getting a refund or swapping their phones for another smartphone, two days after Samsung Electronics Co. decided to discontinue the device over safety concerns. Consumers who have a Note 7 in their possession must visit stores where [...]
SEOUL, Oct. 12 (Korea Bizwire) – Samsung’s decision to stop selling and producing its Galaxy Note 7 phablet might have been a smart move, as it showed the company wasn’t afraid to take big steps to correct its mistakes, and can now move on to focus on the success of future projects. But what is [...]
SEOUL, Oct. 12 (Korea Bizwire) – CEO-level executives of Samsung Group companies, including Samsung Electronics Co., held their weekly meeting in Seoul on Wednesday, but they refused to comment on the permanent halt of production of the Galaxy Note 7. The meeting came a day after Samsung announced that it scrapped the flagship Note 7 [...]
WASHINGTON, Oct. 12 (Korea Bizwire) – The U.S. Supreme Court heard a rare design patent case Tuesday in one of the last-remaining legal battles between Samsung and Apple that could reimburse the South Korean smartphone giant up to nearly $400 million in damages it already paid Apple. Samsung paid Apple US$548 million in damages awarded [...]
SEOUL, Oct. 11 (Korea Bizwire) – The recent announcement that Samsung would suspend the production of its flagship Galaxy Note 7 is likely good news for other premium smartphone manufacturers. In an announcement on Tuesday, the tech giant advised customers with either an original Galaxy Note 7 or a replacement model to power down and [...]
SEOUL, Oct. 11 (Korea Bizwire) – Samsung Electronics Co. said Tuesday it will ask global partners to halt sales and exchanges of the Galaxy Note 7 and advised consumers to immediately stop using the smartphone because of continued safety concerns. The latest warning came about 10 days after Samsung resumed sales of the new Note [...]