What Crisis? Samsung Still Rules South Korea’s Kospi
A woman checks her Samsung Electronics Co. Galaxy Note 7 smartphone at a Samsung kiosk providing rental phones for users of the Note 7 at Incheon International Airport in Incheon, South Korea, on Tuesday, Oct. 25, 2016. In what may be the first Note 7 related class-action lawsuit filed in South Korea, 527 smartphone buyers are demanding Samsung Electronics Co. pay each plaintiff about 500,000 won (about $440) for time and effort lost when the phones were first recalled and then scrapped amid reports devices were heating up and catching on fire.
Photographer: SeongJoon Cho/BloombergIt’s been just over two months since Samsung Electronics Co. began a recall of faulty Note 7 smartphones, precipitating a crisis estimated to cost the company more than $6 billion. Samsung went on to tumble, cutting its weighting in South Korea’s Kospi index, only to rebound to a level where the company’s influence in the benchmark is nearly the greatest in three years.