Samsung’s massive recall of over 2.5 million Galaxy Note 7 smartphones worldwide, over reports of the product catching fire is estimated to cost the company more than $1 billion.
The South Korea-based company has reportedly sold off its entire stake in several other tech companies, including shares in computer drive maker Seagate Technology PLC, chip maker Rambus Inc., Dutch semiconductor-equipment maker ASML Holding NV and Japanese electronics maker Sharp Corp, to raise money to pay for costs associated with the recall.
