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Samsung shares close slightly lower on Galaxy Note 7 production halt

[THE INVESTOR] Shares of Samsung Electronics went on a wild ride on Oct. 10 after news reports that US telecom carriers have decided to stop selling its Galaxy Note 7 replacement phones over safety concerns.

The stock price closed at 1,680,000 won (US$1,515), down 1.52 percent from the previous trading day.

Earlier in the day, the price tumbled to 1,628,000 won following another news report that Samsung was suspending the production of the Note phones at its Korean and Vietnamese plants.




The company said in a regulatory filing that it was adjusting the phone’s supplies for a thorough inspection, adding that it would make a new announcement within a month if there is any change in its production plan.

By Lee Ji-yoon (jylee@heraldcorp.com)
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