DEAL Galaxy S24 FE, Galaxy Watch 7. Subscribe today and be the first to learn about One 7 beta!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

News For You
News For You
Notifications

Samsung SDI Note 7 battery compensation talks reportedly stalled

Business
By 

Last updated: March 21st, 2017 at 10:19 UTC+01:00

Citing industry sources, a report out of South Korea today claims that the Samsung Group's battery affiliate Samsung SDI has put its Galaxy Note 7 battery compensation plan for sister company Samsung Electronics on hold as the two affiliates have yet to find a middle ground for a settlement. The two companies have still not reached a decision on settlement money.

Samsung SDI didn't really have a good year in 2016. It suffered significant losses due to the Galaxy Note 7 debacle and also had to deal with slow sales of automotive batteries in China. It posted an operating loss of 926.3 billion won or $826.90 million last year.

Samsung Electronics announced the result of its lengthy probe into the Galaxy Note 7 fiasco back in January this year. The company confirmed that the battery was at fault and that it was going to seek compensation from its battery suppliers which include Samsung SDI and China's ATL.

Reports suggest that Samsung SDI has earmarked more than 95 billion won to be paid as compensation for the faulty batteries. It supplied 70 percent of all batteries for the Galaxy Note 7. It's unclear what figure both companies will agree on but it's expected that Samsung Electronics will lower the settlement amount given the close ties between both companies.

Samsung SDI declined to comment on the matter while pointing out that the talks are still ongoing.

Via Business Samsung ElectronicsSamsung SDI
Galaxy AI summarized

Scroll for more related content
News For You

You might also like

Samsung’s device repair network welcomes 300+ more locations

Samsung’s device repair network welcomes 300+ more locations

Samsung's customer care network is expanding. The company announced today that its partnership with Cell Phone Repair (CPR) by Assurant, an Independent Service Provider (ISP) within Samsung's repair network, is opening more than 300 new service locations before the end of 2024. At the beginning of the year, CPR had roughly 100 locations certified by […]

  • By Mihai Matei
  • 1 day ago
Samsung goes all nostalgic for the ‘glorious Y2K era’

Samsung goes all nostalgic for the ‘glorious Y2K era’

Samsung has become nostalgic for the year 2000 and has partnered with two designers to create new accessories inspired by popular trends of the era. This new collection of accessories, designed for the Galaxy Z Flip 6 and the Galaxy Buds 3, recalls “the simpler and more fun years of our youth,” when the Internet […]

  • By Mihai Matei
  • 1 week ago
Clever trick from Samsung might fix moisture detection warnings

Clever trick from Samsung might fix moisture detection warnings

Samsung Galaxy phones and tablets boast a high level of water resistance, but the USB ports are not covered, and as everyone knows, water and electronic circuits don't go well together. To avoid water damage and keep water resistance without resorting to USB port covers, Samsung developed a clever software component that automatically detects moisture […]

  • By Mihai Matei
  • 2 weeks ago
New insight tells different story of Samsung-Apple rivalry in Q3

New insight tells different story of Samsung-Apple rivalry in Q3

Yesterday, we covered some market data for the global smartphone segment in Q3 and reported that, according to those numbers, Samsung and Apple held roughly the same market share in the third quarter of 2024. However, different analysts use different methodologies, and today, fresh insight from Counterpoint Research paints a new picture. While Canalys data […]

  • By Mihai Matei
  • 2 weeks ago
Samsung and Apple had equal global phone market share in Q3

Samsung and Apple had equal global phone market share in Q3

Industry experts say the global smartphone market grew year-on-year in Q3, attributing the higher sales to the ongoing phone replacement cycle. And as the segment grew, the competition between the top five global smartphone brands intensified. In Q3, Samsung and Apple had nearly equal market share. Each company held roughly 18% of the global smartphone […]

  • By Mihai Matei
  • 2 weeks ago
Samsung maintains Global Top 5 brand status for 5th year in a row

Samsung maintains Global Top 5 brand status for 5th year in a row

Despite Samsung Electronics going through a rough patch and having to apologize to investors, customers, and employees, not everything the company did this year was questionable. The tech giants launched some amazing products and led several initiatives and tech advancements. For these reasons, the global brand consultancy firm Interbrand recognized Samsung as a Global Top […]

  • By Mihai Matei
  • 3 weeks ago