After Recalling Galaxy Note 7 Over Battery Problem, Samsung is Running Out of Cash

Samsung’s massive recall of over 2.5 million Galaxy Note 7 smartphones worldwide, over reports of the product catching fire is estimated to cost the company more than $1 billion.

The South Korea-based company has reportedly sold off its entire stake in several other tech companies, including shares in computer drive maker Seagate Technology PLC, chip maker Rambus Inc., Dutch semiconductor-equipment maker ASML Holding NV and Japanese electronics maker Sharp Corp, to raise money to pay for costs associated with the recall.

Written by Shaik Zakeer Hussain

Shaik Zakeer Hussain is a former Sr. Correspondent at NextBigWhat. You can get in touch with him here: linkedin.com/in/shaikzakeerhussain or follow him here: twitter.com/zaknetic.