Samsung Expected To Lose $AUD3 Billion, Woah

Well, it's safe to say: It has not been a great week for Samsung.

Following the whole exploding phone, Samsung is expected to cop almost $AUD3 billion worth of losses.

The losses come as Samsung make an announcement to completely end production of the ever troubled Galaxy Note 7 smartphone. Millions of recalls for their devices are being rolled out around the world.

In terms of personal branding, Samsung has suffered some pretty major damage (though it's kinda hard to quantify). Their shares were driven down by eight per cent the night the entire debacle was publicised.

A research company called Strategy Analytics have estimated that Samsung could lose upwards of $USD10 billion in total.

Samsung has yet to detail what exactly caused the Galaxy Note 7 fires to begin with, but chances are it's to do with the battery.

Having said that, it was one of their most ambitious products in recent years. It was totally jam-packed with innovations which were intended to help it compete with Apple products in the high end smartphone market.

We imagine Apple headquarters to look something like this right now:

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