Thu, May 25, 2017 | updated 09:45 PM IST

Samsung expects USD 3 billion loss over Note 7 recall

Updated: Oct 14, 2016 13:46 IST      
Samsung expects USD 3 billion loss over Note 7 recall
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], May 25 (ANI): Infosys and HP Inc. On Thursday launched joint Retail Point of Sale (RPOS) and Enterprise Device as a Service (DaaS) solutions to help businesses accelerate digital transformation as part of the HP Global System Integrator (GSI) Alliance Program.

Full Story >>

OLX mobile phones category booming steered by Millennials

Updated: May 25, 2017 15:50 IST     

New Delhi [India], May 25 (ANI): With almost 10 million mobile phones, and mobile accessories listed in FY 2016-17 alone, OLX has reinforced its position as the number one online destination for pre-owned mobiles in India.

Full Story >>

ixigo amongst most used train travel app; inks 20 mn installs

Updated: May 25, 2017 11:36 IST     

New Delhi [India], May 25 (ANI): ixigo has announced hitting the numero uno spot by becoming India's most used train travel app with over 20 million cumulative installs and over five million monthly active users.

Full Story >>

Tokyo [Japan], May 24 (ANI): The internet connects people and things around the world. Optical cables placed along the ocean floor provide more than 99 percent of international communications.

Full Story >>

NVS goes Digital, to establish 8 Centers of Excellence in 8 cities

Updated: May 23, 2017 16:55 IST      By: Onkareshwar Pandey

New Delhi [India], May, 23 (ANI): Following the footprints of Prime Minister Narendra Modi for structural reforms in education ranging from schools to universities, and make Digital India with an aim to transform the country into a digitally-empowered knowledge economy, Navodaya Vidyalaya Samiti (NVS) has gone hi-tech.

Full Story >>

New Delhi [India], May 23 (ANI): Ericsson on Tuesday announced the launch of new dual band radio products customised for the Indian market.

Full Story >>

New Delhi [India], May 22 (ANI): Microsoft India on Monday announced signing of an today Memorandum of Understanding (MoU) with the Telecom Sector Skill Council (TSSC) to jointly explore how Project Sangam will help enhance skills of executives in the telecom sector and create a more viable skilling ecosystem.

Full Story >>

New Delhi [India], May 22 (ANI): Communications platform Truecaller on Monday unveiled its latest update of group messaging and MMS features on its app, which will enable users to share pictures, loop in the same text when communicating among friends along with the bolt speed flash messaging.

Full Story >>

New Delhi [India], May 19 (ANI): As part of Microsoft's 'Public Cloud for Good' initiative, Microsoft India is making Microsoft Azure broadly available to eligible non-profit organizations, bringing the power of technology to them.

Full Story >>

New Delhi [India], May 19 (ANI): UCWeb Inc's holding company, Alibaba Group on Friday reported a 271 percent jump (year-on-year) in its Digital Media and Entertainment revenue for the fiscal year ended March 31.

Full Story >>

New Delhi [India], May 19 (ANI): Leading provider of open source solutions Red Hat and Amazon Web Services, Inc. has announced an extended strategic alliance to natively integrate access to AWS services into Red Hat OpenShift Container Platform.

Full Story >>

New Delhi [India], May 18 (ANI): Acer India on Thursday announced the appointment of Rajeev Chandrashekar as Director of Consumer Products (Gaming).

Full Story >>

Ericsson, Microsoft tie-up to accelerate IoT globally

Updated: May 18, 2017 13:22 IST     

New Delhi [India], May 18 (ANI): Leader in communications technology and services Ericsson on Thursday announced its partnership with Microsoft to further strengthen the global Internet of Things (IoT) ecosystem by enabling enterprises to speed up the time it takes to launch mobile network-based IoT services.

Full Story >>

New Delhi [India], May 17 (ANI): Adobe on Wednesday announced the appointment of Sunder Madakshira as Head of Marketing for its India business.

Full Story >>

New Delhi [India], May 17 (ANI): Leading PC and tablets player Lenovo on Wednesday announced the launch of its dedicated brand for gaming 'Legion' in India in two variants including Lenovo Legion Y520 at Rs. 92,490 and Lenovo Legion Y720 at Rs. 149,990.

Full Story >>

Google doodle celebrates Antikythera mechanism's 115 years

Updated: May 17, 2017 08:50 IST     

New Delhi [India], May 17 (ANI): To mark the discovery of the world's first known analogue computer, Google today celebrates Antikythera mechanism's 115 years through its doodle.

Full Story >>

Volvo, Google partnership to enable Android on next-gen cars

Updated: May 16, 2017 16:44 IST     

New Delhi [India], May 16 (ANI): Swedish luxury car company Volvo Cars on Tuesday announced its partnership with Google to develop the next generation of its award-winning in-car infotainment and connectivity solution based on Android, offering access to a wide array of apps and services.

Full Story >>

Overarching security crucial against ransomware attack: Mojo

Updated: May 15, 2017 17:40 IST     

New Delhi [India], May 15 (ANI): The last few days have seen an increase in scrutiny of security measures in the wake of the ransomware attack that has surfaced in companies across the world.

Full Story >>

Gemalto empowers smartphone-based digital vehicle key

Updated: May 15, 2017 13:31 IST     

New Delhi [India], May 15 (ANI): Leader in digital security Gemalto has announced providing of its Trusted Services Hub (TSH) to support Daimler AG's new smartphone-based 'digital vehicle key' for the Mercedes-Benz E-Class range.

Full Story >>

Make this mother's day a tech-savvy one!

Updated: May 14, 2017 12:50 IST     

New Delhi [India], May 14 (ANI): Mothers today have become increasingly inclined towards technology that can enhance their core ability to multi-task with ease. With Mother's Day on the calendar celebrating the spirit of motherhood and the importance of them in each individual's life, here are some apps that can get these 'wonder-women' clicking:

Full Story >>