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A flammable smartphone battery has brought down the securities of Samsung Electronics

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A flammable smartphone battery has brought down the securities of Samsung Electronics

A flammable smartphone battery has brought down the securities of Samsung Electronics
September 12
15:00 2016

The securities of Samsung Electronics Co Ltd have collapsed to almost two -month minimum point due to the fact that the company had to officially inform its customers that the new smartphones Galaxy Note 7 were dangerous. The line of new gadgets has faulty batteries. So, there is a possibility of fire. All the users must turn off and return the gadgets.

15.9 trillion won ($ 14.3 billion) were withdrawn by investors from the securities of Samsung Electronics. Investors were guided by the concern about the future of the smartphone, seeded by regulators and airlines around the world.

Lee Seung-Woo, analyst at IBK Securities, said: “Some told that Galaxy Note 7 might be the best smartphone in the history, but now there is a chance that the device will be the worst in the history.” The expert believes that the company expects low sales in the fourth quarter.

Ordinary papers of Samsung Electronics have fallen by 6.3 per cent and amounted to 1,476,000 won for each share. The company’s shares have experienced the strongest drop for more than four years.

According to the experts, the incident with Galaxy Note 7 can seriously undermine the sales of the smartphone and permanently worsen the image of Samsung Electronics – the technology giant, which is worth $ 211 billion.

At the end of last week the South Korean multinational company asked its customers who used Galaxy Note 7 to turn off the power of the gadgets and return them as soon as possible in the framework of the comment that Samsung Electronics had organized from 2 September.

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