Samsung's expected losses from the Galaxy Note 7 catastrophe have soared above $5 billion.
The South Korean tech giant announced this week it was killing off its flagship Note 7 smartphone. The move came after reports kept emerging of the devices catching fire -- even after Samsung (SSNLF) had promised customers that replacement phones it was providing were safe.
Analysts saw the decision to ditch the Note 7 after weeks of crisis as an attempt by Samsung tosave its brand image and shield other smartphones from the fallout. But the company is still coming to terms with the financial damage from canning an entire product line.
On Wednesday, it said it expected the move to knock about $2.3 billion off its operating profit for the three months to Sept. 30. And on Friday, it forecast a further hit of around $3.1 billion to operating profit for the six months through March 2017.
