Oct 13 2016, 11:50 PM
QUOTE(jerryhean @ Oct 13 2016, 11:19 PM)
Didn't know Samsung Note 7 issue can have impact to Korea economy.
Samsung Electronics recently scrapped production of the Galaxy Note 7 after a recall in the wake of several of the smartphones catching fire after charging. Bank of Korea Governor Lee Ju-yeol said that the electronics giant’s cancellation of one of its flagship phones could affect the economy, although the bank needed more time to assess the situation, according to Bloomberg.
“Samsung’s problems were calculated into Thursday’s revisions to the BOK’s economic forecasts that include growth and inflation rates, he said, but the bank was not able to reflect the most recent changes because of time constraints,” according to Reuters.
The issues at Samsung and a strike by automobile workers contributed to a drop in shipments of electronics and vehicles for the month of September, wrote Capital Economics’ Asia economist Krystal Tan in a note to clients.
And a BMI Research team argued on Thursday that they “expect Korean exports to face persistent headwinds following the fallout from safety issues surrounding Samsung’s flagship Note 7 smartphone.”
Read more at http://www.businessinsider.my/south-korea-...8Ep0P3Ha7WGM.99
read somewhere samsung as company provide 17% of korea gdpSamsung Electronics recently scrapped production of the Galaxy Note 7 after a recall in the wake of several of the smartphones catching fire after charging. Bank of Korea Governor Lee Ju-yeol said that the electronics giant’s cancellation of one of its flagship phones could affect the economy, although the bank needed more time to assess the situation, according to Bloomberg.
“Samsung’s problems were calculated into Thursday’s revisions to the BOK’s economic forecasts that include growth and inflation rates, he said, but the bank was not able to reflect the most recent changes because of time constraints,” according to Reuters.
The issues at Samsung and a strike by automobile workers contributed to a drop in shipments of electronics and vehicles for the month of September, wrote Capital Economics’ Asia economist Krystal Tan in a note to clients.
And a BMI Research team argued on Thursday that they “expect Korean exports to face persistent headwinds following the fallout from safety issues surrounding Samsung’s flagship Note 7 smartphone.”
Read more at http://www.businessinsider.my/south-korea-...8Ep0P3Ha7WGM.99
meanwhile samsung mobile have 46% of overall samsung profit or turnover
and we know samsung mobile makes money from their flagship hansdet
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