Samsung Note 7 recall to cost at least $5.3bn

Samsung has said the discontinuation of the Galaxy Note 7 will cost the company about $3bn (£2.45bn) during the current and next quarters, bringing the total cost of the recall to at least $5.3bn (£4.3bn).

The discontinuation will cost in the mid-2 trillion won range during the October-December period and another trillion won (£722m) during the January-March quarter, the company said in a statement.