The Galaxy Note 7 fiasco is likely to have a negative impact on South Korea's GDP

According to a fresh report from Reuters, the Samsung Galaxy Note 7 fiasco is bound to have a negative impact on South Korea’s Q3 2016 GDP.

The report, quoting an unnamed finance ministry from the country, says that Samsung’s decision to kill off the Galaxy Note 7 is estimated to have erased somewhere between 0.1 and 0.2 percent from South Korea’s GDP quarter-on-quarter growth in Q3.

The news comes on the heels of a recent statement from the Bank of Korea, which estimated a Q3 GDP growth of 0.7 percentage points compared to the previous quarter.

In the past few weeks, we … – Source

The Galaxy Note 7 fiasco is likely to have a negative impact on South Korea's GDP