Samsung loses 14 billion in few hours due to Note 7 exploding battery issue

September 11, 2016 4:02 pm
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Samsung which had launched its ever popular Note series a few weeks back named Note 7, had to be recalled due to high reports of exploding while being charged.

The electronic giants Samsung lost over 14 billion in market shares on Monday morning, after the company asked the customers to switch off and return their Note 7 smart phones due to fire prone batteries.

Note 7 problems are a major blow to Samsung’s efforts to build on the strong sales of its Galaxy S7 smart phones launched in March. Earlier, India and several other countries banned the use of Note 7 on aircraft’s.

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