U.S. carrier Verizon starts taking orders for new Samsung Note 7 phones
- S&P 500, Nasdaq set records as tech, banks lead
- Texas Instruments (TXN) Tops Q4 EPS by 20c, Issues Solid Q1 Outlook
- Intuitive Surgical (ISRG) Tops Q4 EPS by 10c; $2B Accelerated Share Repurchase
- Seagate Technology (STX) Tops Q2 EPS by 30c
- After-Hours Stock Movers 01/24: (BOBE) (STX) (WDC) Higher; (NEWT) (MRCY) (CA) Lower (more...)
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 daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
By Se Young Lee
SEOUL (Reuters) - U.S. carrier Verizon Communications Inc (NYSE: VZ) has begun taking orders for Samsung Electronics Co Ltd's <005930.KS> new Galaxy Note 7 smartphones, after having stopped sales of the device earlier due to fire-prone batteries.
Samsung has recalled about 1 million Note 7 smartphones in the United States, offering to replace or refund the flagship phones. Their susceptibility to catching fire - with more than 100 cases reported across the globe - has damaged the image of the South Korean company.
Globally, the world's top smartphone maker has recalled at least 2.5 million handsets, in a major setback for the company that is looking to claw back market share from rivals, including Apple Inc (NASDAQ: AAPL) that recently released its latest iPhones.
Samsung halted new sales ahead of the recall as it prepared replacement Note 7 devices with safe batteries.
The new Note 7 phones have been approved by the U.S. Consumer Product Safety Commission for all purchases and exchanges, Verizon said on its website, adding it has the Samsung device available for sale starting Wednesday.
The largest U.S. wireless carrier warned that initial quantities could be limited.
Samsung said in a statement on Tuesday that it had shipped more than 500,000 new Note 7s to U.S. carriers and retailers and that affected users will be able to exchange their recalled phones starting by Wednesday at the latest. The statement did not specify when new sales would start.
Rival carrier Sprint Corp's (NYSE: S) website also showed the Note 7 available for order, providing a list of stores where customers can pick up a new handset by appointment.
Samsung did not immediately comment on the U.S. sales plans.
The firm previously said it will resume new sales in South Korea starting Sept. 28 and that sales in Australia and Singapore would resume sometime in October.
(Reporting by Se Young Lee; Editing by Tony Munroe and Himani Sarkar)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Target to launch mobile payment service in U.S. stores this year
- Intuitive Surgical sees slower 2017 procedure growth, buys back shares
- Tillerson gets first briefings at State Department: spokesman
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!