Fiasco of the Galaxy Note 7 : Samsung continues its fall in the stock Exchange – Europe1

The action Samsung continued Wednesday to unscrew, in the aftermath of a loss of 8% in the Korea stock Exchange (KRX) due to the fiasco of its flagship smartphone, the Galaxy Note 7 and in the case of batteries, explosive.

Loss of € 15.3 billion. After opening down 3%, as Samsung Electronics is trading little before 4 o’clock in the morning (French time) to 1,513 million won (1.219 euros), a decrease of 2.07% compared to the closing of the previous day. Tuesday, the fall of the title of 8% was the highest decline in Samsung Electronics in a day since 2008. The group lost Tuesday at € 15.3 billion of market capitalization.

A judgment “final” of the production. The giant of south korea decided Tuesday to pull the face of the fiasco of the Galaxy Note 7, and to permanently cease the production of this smartphone is stuck in a operation of disastrous recall because of batteries explosive. A spokesman confirmed that it was an abandonment of “final”. The world’s leading manufacturer of smartphones, is attempting to contain the impact on its brand image and on its other business lines in the case of the Note 7 defective, one of its biggest commercial failures, at a time when he must deal with intensified competition.

For “consumer safety”. The south Korean conglomerate has announced in a prime time to have stopped the sales and exchanges of the device, following information depending on which Note 7 of the replacement had also caught fire. And once the Korea stock Exchange closed, the group announced that he was relinquishing completely to its “phablet”, as called the intermediate models between smartphones and tablets. “By making consumer safety our number one concern, we have come to the final decision to stop the production of Galaxy Note 7,” said Samsung in a press release.