Samsung Estimated to Lose $1 Billion From Note 7 Recalls

Shortly following the launch of Samsung's highly-anticipated Galaxy Note 7, which included innovative features like iris scanning and an improved camera app, customers began reporting incidents of the phone catching on fire while charging. With 35 known cases, Samsung issued a global recall due to the faulty batteries, which meant replacing nearly 2.5 million phones. In addition to halting current sales of the phone to sort out the issue, analysts have estimated that the recall will cost the Sou...