Samsung Shares Slammed After Global Recall
As more and more reports circulate concerning Samsung’s Note 7, the company’s stock price has plummeted.
Samsung’s stock dropped 6.3% – their lowest since July – amidst safety warnings from both industry regulators and airline companies.
Prior to the recall, the Note 7 was widely praised as Samsung’s best smartphone offering yet with its August launch intended to undercut the launch of Apple’s own flagship devices in September.
The company urged customers to cease using the handset and began the process of a global recall on September 2nd – a move that Samsung’s CEO said will cost the company a ‘heartbreaking amount.’
Replacement stock for the Note 7 is set to arrive for Australian customers on the 21st of September.