Mon, Feb 27, 2017 | updated 12:50 PM IST

Samsung expects USD 3 billion loss over Note 7 recall

Updated: Oct 14, 2016 13:46 IST
New Delhi [India], Oct. 14 (ANI): Samsung Electronics on Friday estimated that the crisis over its exploding flagship Galaxy Note 7 smartphones would cost the company more that USD 3 billion in lost operating profit over the next two quarters.

Samsung said in a statement that it expected the blow to profit to be in the mid-2 trillion won range in the October-December period and about 1 trillion won (USD 900 million) for the first quarter of 2017.

The outlook brings to more than USD 5 billion the total losses the global smartphone leader has forecast as a result of the overheating issues, after it said on Wednesday it would suffer a USD 2.3 billion hit to third-quarter profit.

The premium device that was meant to compete with Apple Inc's latest iPhones at the top end of the smartphone market had to be scrapped earlier this week less than two months after its launch. To make up for the lost revenue, Samsung said it would expand sales of products such as the Galaxy S7 and S7 edge phones.

"Additionally, the company will focus on enhancing product safety for consumers by making significant changes in its quality assurance processes," the firm said in a statement.

Shares in Samsung, which have fallen about 8 percent this week on news of the withdrawal of the Note 7, edged up 0.8 percent in early trade .

The device, which has a chance of overheating and exploding, has been plagued with problems since its launch back in August. After recalling millions of devices thought to have battery issues, Samsung began issuing replacement Note 7s to customers around the world.

However, numerous cases of those replacement units catching fire in the US over the course of the last week prompted Samsung to announce a worldwide recall of all devices and cease production permanently. The company still can't pinpoint the cause of the problem. (ANI)

New Delhi [India], Feb 27 (ANI): Hewlett Packard Enterprise (HPE) at the Mobile World Congress 2017 announced that it is working with Tata Communications, a leading provider of a new world of communications™, to support the roll-out of India's first LoRaWAN™ (LoRa) based network.

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Osaka (Tokyo),[Japan] Feb 27 (ANI): Kyocera Corporation has announced the release of TORQUE® X01, a rugged feature phone for Japanese service provider KDDI Corporation.

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New Delhi [India], Feb. 26 (ANI): Rocking Deals launched Trackstolen.in, a free medium to spread awareness about stolen or theft devices. A website to enable users to register his/her device to secure it from getting stolen, this eases the process of buying and selling second-hand phones.

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New Delhi [India], Feb. 25 (ANI): The wholly-owned subsidiary of Mahindra and Mahindra, Mahindra Agri Solutions (MASL) has announced an advisory platform for farmers in the form of a mobile app, 'MyAgriGuru'.

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New Delhi [India], Feb 24 (ANI): Almost half of all phishing attacks (fraudulent email messages or copycat websites that appear legitimate) registered in 2016 by Kaspersky Lab's heuristic detection technologies, were aimed at stealing their victim's money, according to an analysis of the financial threat landscape by Kaspersky Lab the company's experts.

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WhatsApp's new 'status' feature goes live

Updated: Feb 24, 2017 12:25 IST

New Delhi [India], Feb. 24 (ANI): WhatsApp's on Friday rolled out its new feature 'Status' live across Android, iOS and Windows software wherein the users can upload pictures and videos for their contacts to see, instead of regular text status message.

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New Delhi [India], Feb 24 (ANI): World's leading information technology (IT) association CompTIA has unveiled a groundbreaking, vendor-neutral certification, CompTIA Cyber security Analyst (CSA+), the first of its kind to bring behavioral analytics to the forefront of assessing cyber threats.

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New Delhi [India], Feb. 24 (ANI): Verizon and Ericsson enabled an operational shift of 5G network from technology trials to pre-commercial pilots in the field in multiple cities across United States of America.

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Amsterdam [Netherlands]/Tokyo [Japan], Feb.23 (ANI): ISE 2017, the largest audio-visual and systems integration show, was held recently in Netherlands.

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New Delhi [India], Feb. 23 (ANI): Google has always made sure to celebrate every special affair around the globe.

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Mumbai (Maharashtra) [India], Feb. 22 (ANI): Microsoft's Chief Executive Officer (CEO) Satya Nadella on Wednesday announced the launch of a new skilling tool called 'Project Sangam' for Indian citizens.

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New Delhi [India], Feb 22 (ANI): According to Kaspersky Lab "Spam and phishing in 2016"report, about 20 percent of all spam emails in Q4 2016distributed ransomware Trojans. The Kaspersky Lab spam report also identified the following trends in 2016

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HP launches OMEN gaming portfolio in India

Updated: Feb 22, 2017 15:32 IST

New Delhi [India], Feb. 22 (ANI): HP Inc. launched the debut of its gaming portfolio in India - OMEN by HP, featuring an array of products built for gamers combining the latest in PC innovation, delivering power and performance to dominate competition.

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New Delhi [India], Feb. 22 (ANI): Optical fibre broadband service provider Spectranet on Wednesday announced their next phase of expansion in South India by launching its operations in Bengaluru.

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New Delhi, [India], Feb. 22 (ANI): ADDA GateKeeper, a security management platform for apartment complexes, launched a range of security measures to tighten security in large apartment complexes across most Tier I cities.

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Who controls your car without you knowing?

Updated: Feb 21, 2017 16:43 IST

New Delhi [India], Feb.21 (ANI): Kaspersky Lab researchers have examined the security of applications for the remote control of cars from several famous car manufacturers. As a result, the company's experts have discovered that all of the applications contain a number of security issues that can potentially allow criminals to cause significant damage for connected car owners.

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New Delhi [India], Feb 21 (ANI): World leader in digital security Gemalto is presenting the newest release of its On Demand Connectivity and eSIM technology for Windows 10 devices, in connection with Microsoft.

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New Delhi [India], Feb. 21 (ANI): In lieu of its eighth birthday on February 24, 2017, WhatsApp messenger, the instant messaging platform introduced a new update which is set to revamp the status feature.

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New Delhi [India], Feb 20 (ANI): NEC Corporation has announced that it has completed joint verification trials with NTT DOCOMO, Inc. using Massive Multiple Input Multiple Output (MIMO), a core technology for 5G base stations.

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New Delhi [India], Feb 19 (ANI): SyncNScan is a young company, which was set up by ex-Microsoft leaders and they were pioneers in introducing anti-virus for mobile devices.

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