Samsung Note 7 Recall Will Be Pricey, But Probably Worth It
- Analysts estimate impact of recall at about $1 billion
- Company halts Note 7 sales, plans replacement program
How Much Will Samsung's Recall Hurt the Brand?
This article is for subscribers only.
Samsung Electronics Co.’s recall of millions of big-screen smartphones isn’t going to be cheap.
The South Korean company may spend as much as $1 billion, after deciding to replace all of the 2.5 million Note 7 phones that were shipped since they went on sale two weeks ago, according to estimates compiled by Bloomberg. Samsung would only say the amount was “heartbreaking.” About three dozen of the devices were found to have batteries that caught fire and exploded.