Note 7 saga wipes out $17 billion from Samsung’s market cap

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Samsung just issued in Korea today the same statement that it did for the US yesterday – that it is halting all Note 7 sales and replacements until the relevant consumer safety bodies in the US, Korea and Taiwan have finished their investigation into the replacement units catching fire. Asked if/when will sales (and possibly production) resume, a Samsung spokeswoman replied that there is nothing decided yet on future plans about the Note 7 production.

Meanwhile, the statement that Samsung posted today in Korea, wiped out more than $ 17 billion of market cap from …