Samsung drops on the stock exchange after withdrawing mobile from stores

A Samsung Electronics Galaxy Note 7A Samsung Electronics Galaxy Note 7 new smartphone is displayed at its store in Seoul, South Korea, September 2, 2016. REUTERS/Kim Hong-Ji

Samsung’s stock price dropped by 8 percent on Tuesday after the company stopped all the sales of the smartphone Galaxy Note 7 for security reasons.

Samsung is the world’s largest maker of smartphones, and after the drop in its stock price,the stock exchange in South Korea’s capital Seoul went down by 1.2 percent.

The drop in the stock price came after the mobile giant announced that they would stop the production of Galaxy Note 7 and recalled the 2.5 million  phones already sold after complaints that the battery had exploded or caught fire.

Persons who are in possession of what is considered Samsung’s top model, are advised to switch the smartphone off immediately.

– Because consumer safety is our top priority,  Samsung will stop all sales of Galaxy Note 7 while we are making further investigations of this , Samsung states in a press release.


Source: NTB scanpix / Norway Today

Be the first to comment on "Samsung drops on the stock exchange after withdrawing mobile from stores"

Leave a comment

Your email address will not be published.