News & Notice

News & Notice
Subject Samsung Elec resumes sales of Galaxy Note7 Date 2016-10-04 11:02:35
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Samsung Elec resumes sales of Galaxy Note7





South Korea’s electronics behemoth Samsung Electronics Co. resumed the sales of its Galaxy Note7 smartphones after it suspended sales due to a battery cell problem and the electronics giant sold more than 30,000 units of the phablet for the weekend. 

According to the communications businesses on Monday, the company sold 21,000 units on Saturday, which makes the phablet a smash-hit product with more than 10,000 units selling a day. On Sunday, it also sold over 10,000 units. 

Black onyx has been added to the initial color selection of blue coral, gold platinum, and silver titanium in order for the company to maintain the initial popularity and the company would unveil the model with the new color on Friday. The electronics giant would give new consumers generous benefits offering to share half of the cost for screen damage and gift coupons worth 100,000 won ($90.58) for purchases on Samsung Pay mall for this month. Galaxy Note7 smartphones with potentially risky battery can be replaced in Digital Plaza of the company’s service centers. More than 80 percent of consumers who bought the smartphone before the recall announcement have exchanged their devices. 

Samsung Electronics earnings in the third quarter have been hit by global recall and refund policy on Galaxy Note7 due to battery defect. 

According to the electronics industry on Monday, the company that would release profit guidance on Friday would have posted 7.1 trillion won in operating profit in the third quarter, far lower than 7.64 trillion won of consensus of securities firms. 

The electronics company recorded 8.14 trillion won in operating profit in the second quarter thanks to robust sales of Galaxy S7, exceeding 8 trillion won mark for the first time in 9 quarters. With strong response to the new Galaxy Note7, securities firms’ consensus for the third quarter has soared to 8.2 trillion won. 

However, the atmosphere has suddenly changed as the company announced a bold recall for its Galaxy Note7 smartphones on September 2. Securities firms predict losses of the company caused by the recall at up to 1.5 trillion won. 

Samsung Electronics shares on Friday ended at 1,598,000, down 2,000 won, or 0.13 percent, from the previous session.

By Lee Seung-hoon, Lee Gyung-jin

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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