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Samsung Note 7 Recall to Cost at Least $5.3 Billion

Samsung Electronics said Friday that discontinuing the Galaxy Note 7 smartphone, which is prone to overheat and catch fire, will cost it about $3 billion in the current and coming quarters, raising total costs from the recalls to at least $5.3 billion. The Note 7 discontinuation will cost in the mid-2 trillion won range during the October-December period and another 1 trillion won ($884 million) during the January-March quarter, the company said in a statement. Samsung already slashed...

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