By now there’s almost no way you’ve missed the news that Samsung is recalling all the Galaxy Note 7’s sold worldwide, but the financial outcome of the decision is only now coming to light.
According to Bloomberg, the cost could go as high as one billion dollars but the company wasn’t confirming the specifics. A spokesperson did say the amount was “heartbreaking” though.
The timing of the battery problem that’s resulted at least 35 Note 7’s catch fire during (or just after) charging couldn’t be worse. With Apple set to unveil its latest iPhone tomorrow, not having handsets on the shelves for sale and the potential damage to customer trust will undoubtedly make the true cost of the mistake more than the cost of the recall.
