Samsung Electronics delays South Korea re-start of Note 7 sales by three days
- Wall St. set to open lower, weighed down by GE
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
- General Electric (GE) Tops Q3 EPS by 2c; Updates FY16 EPS Outlook
- Pre-Open Stock Movers 10/21: (ALKS) (RAI) (PFPT) (MSFT) Higher; (SGY) (TWLO) (RRGB) Lower (more...)
- Oil rises on Russia's output freeze commitment
A model poses for photographs with a Galaxy Note 7 new smartphone during its launching ceremony in Seoul, South Korea, August 11, 2016. REUTERS/Kim Hong-Ji/File Photo
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
SEOUL (Reuters) - Tech giant Samsung Electronics Co Ltd said on Sunday it was delaying the start of new Galaxy Note 7 smartphone sales in South Korea by three days to Oct. 1, a move it says is needed for speedy completion of the ongoing recall in the country.
Samsung earlier this month initiated a recall of at least 2.5 million Galaxy Note 7 smartphones in 10 markets including South Korea due to a faulty battery causing the phones to catch fire. The firm said on Sunday about 200,000 affected South Korean customers have turned in their devices, with another 200,000 people left for the recall.
"The recall rate will likely fall sharply should new sales have resumed on Sept. 28," the company said. '
(Reporting by Se Young Lee; Editing by Michael Perry)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- British PM May says Brexit talks with EU will take time
- GE beats on profit but cuts revenue target on oil, gas weakness
- EU leaders agree to modernize their trade defense instruments
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!