Samsung Shares Drop Caused Galaxy Note 7 Recall

Posted: Sep 12 2016, 1:32am CDT | by , in News | Latest Business News


Samsung Shares Drop Caused Galaxy Note 7 Recall

Samsung shares fell sharply on Monday, hitting a two-month low after the South Korean tech giant urged users not to use the Galaxy Note 7 and exchange devices due to fears it might explode.

The company's shares dropped 7 percent on Monday morning on the Korean Stock Exchange.

Samsung recalled 2.5 million phones last week after reports of the device exploding during or after charging.

Airline passengers were warned by US authorities not to use or charge the phones while on board.

Aviation authorities in several other countries and individual airlines have since then also banned the use of the devices on their flights, as reported earlier.

The company has said it will replace all devices that were handed in from September 19.

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