Fire prone Note 7 could cost Samsung $17 billion

The biggest recall in the company history could cost the company as much as USD 17 billion. The future for – what was suppose to be – the company’s premium phone is, to say the least, rather uncertain, reports Reuters who has been in contact with several analysts. The “worst case scenario” is based on the fact that the phone could be banned from the US market – due to the fire incidents. If this would be the case, this would translate into lost sales of up to 19 million phones. Edward Snyder, managing director at Charter Equity Research, told Reuters that the incidents and the repeated reports of continuing failure "has probably killed the Note 7 brand name."