South Korean prosecutors investigating a corruption scandal surrounding the country's president and her friend raided a unit of the country's largest business group, Samsung, and the national pension fund on Wednesday.
In another black eye for one of the world's leading consumer brands, U.S. authorities announced a recall Friday of nearly 3 million Samsung washing machines following several reports of injuries -- including a broken jaw -- due to 'excessive vibration.'
Samsung Electronics is still trying to figure out why its Galaxy Note 7 smartphones were catching fire, the company said Thursday, as shareholders appointed the grandson of the company's founder to its board.
Passengers and flight crews will be banned from bringing Samsung Galaxy Note 7 smartphones on airline flights under emergency orders issued Friday by both Transport Canada and the U.S. Department of Transportation in response to reports of the phones catching fire.
Samsung Electronics said Friday that the discontinuation of the Galaxy Note 7 would cost the company about US$3 billion during the current and next quarters, bringing the total cost of the recall to at least US$5.3 billion.