Suppliers of Galaxy Note 7 Parts to Receive Full Compensation From Samsung

Last week, Samsung announced the discontinuation of its latest flagship, the Galaxy Note 7 and the company is now looking to retrieve all sold units. The situation doesn’t just affect Samsung, components suppliers have also taken a hit.

Yonhap News reported that Samsung Electronics will pay full compensation to suppliers of Galaxy Note 7 components. Apparently, about 70 suppliers will receive compensation and Samsung Electronics is even considering placing orders for other smartphones.

Samsung didn’t mention how much the company will spend on compensation, but analysts say that it could reach as much as $265.1 million. Samsung already apologized to suppliers for the situation.

In addition, the South Korean government has expressed concerns over the impact that the Galaxy Note 7 situation could have on the country’s economy, since some of these companies as based in K...