SEOUL (Sept 12): Shares of tech giant Samsung Electronics Co Ltd fell to their lowest level in nearly two months on Monday, hurt by worries the fallout from a recall of its Galaxy Note 7 smartphone may deal a bigger blow than anticipated. The U.S. consumer agency warned consumers on Friday to stop using the phone in response to reports its batteries combusted while charging or in normal use. Aviation authorities and airlines around the world have also banned or issued warnings against using or charging the phone in planes or storing them in cargo. Some analysts estimate the firm might lose nearly 5 trillion won worth of revenue after accounting for costs of the recall. The company has said it had sold 2.5 million Galaxy Note 7s that need to be replaced.

Source: The Edge Markets September 12, 2016 01:07 UTC