A day after Samsung issued two statements declaring that it was “adjusting production” of the troubled Galaxy Note 7 to respond to complaints and fires, the company announced on Tuesday that it has “consequently decided to stop production” -but the consequences of the entire debacle may extend for some time. Estimates of Samsung’s lost profits from the Note 7 issue and the generally poor handling of it have grown significantly over the last month. Initial estimates pegged losses of $5 billion over the product’s life cycle. However, as news of the complete production stop of the Galaxy Note 7 spread, analysts started singing a different tune. Credit Suisse, the original author of the $5 billion figure, now claims that the complete loss will be $19 billion including recall expenses, assuming lost sales of up to 22 million phones. Full article HERE
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