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Samsung to pay full compensation to suppliers of Note 7 parts
By 임정요Published : Oct. 18, 2016 - 14:41
Samsung Electronics Co. said Tuesday it will pay full compensation to suppliers of Galaxy Note 7 components.
The move is a part of its efforts to help about 70 suppliers that are grappling with the discontinuation of the Note 7 over safety concerns.
In a statement, Samsung also said it would consider giving them orders for other smartphones.
Samsung did not disclose details, including how much it would spend on the proposed compensation, but industry observers estimate that Samsung could pay as much as 300 billion won ($265.1 million).
In the statement, Park Jong-suh, vice president of Samsung's smartphone business division, apologized for causing the suppliers trouble following the discontinuation of the Note 7.
Last week, Samsung permanently halted sales and production of the Note 7 smartphone. (Yonhap)
