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World

Note 7 recall shock sinks Samsung profits

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World

Note 7 recall shock sinks Samsung profits

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COMING UP:Note 7 recall shock sinks Samsung profits

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Transcript

00:00:02
>> Samsung earnings burned by the Galaxy Note 7. The company's mobile earnings plunging 98% from a year earlier, the lowest in nearly eight years, barely avoiding its first ever loss. The Korean electronics giant had pinned hopes on the phone, trying to stage a mobile market comeback. But the dream died when Samsung issued a worldwide recall of the Note 7 earlier this month, after an apparent flaw cause dozens of them to explode or burst into flames.
00:00:30
Samsung is vowing to recover quickly after losing out on what many saw as a chance to turn its fortunes around. On Thursday, the company also announcing it's going to take another look at its safety checks. It's still unclear exactly what triggers the Note 7's apparent overheating issue, but an official told shareholders they think the problem goes beyond batteries.
00:00:51
Sources say the issue's created a chilling effect within the company, delaying a rollout of the Galaxy S8, the next flagship Samsung device. The company saying they'll only release it after safety is guaranteed.