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.

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About the author

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.

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