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Samsung recalls over 1 million electric ranges due to fire hazard. Marlene Lenthang. August 9, 2024 at 6:06 AM. From left, Samsung Slide-In Electric Range models NE63T8111SS/AA, NE63A8711QN/AA ...
Samsung is recalling more than 1.1 million electric ranges sold nationwide after the products were linked with roughly 250 fires, leading to dozens of injuries and killing at least seven pets.
To date, Samsung has received more than 300 reports of the knobs activating unintentionally since 2013, the CPSC noted, and the now-recalled ranges have been involved in about 250 fires.
Product recalls are one of a number of corrective actions that can be taken for products that are deemed to be unsafe. The recall is an effort to limit ruination of the corporate image and limit liability for corporate negligence, which can cause significant legal costs. It can be difficult, if not impossible, to determine how costly can be ...
Samsung is also a major vendor of washing machines, refrigerators, computer monitors and soundbars. [12] Samsung Electronics is a major manufacturer of electronic components such as lithium-ion batteries, semiconductors, image sensors, camera modules, and displays for clients such as Apple, Sony, HTC, and Nokia.
The recall had a major impact on Samsung's business in the third quarter of 2016, with the company projecting that its operating profits would be down by 33% in comparison to the previous quarter. Credit Suisse analysts estimated that Samsung would lose at least US$17 billion in revenue from the production and recall of the Galaxy Note 7.
About 1,120,905 electric ranges over 30 model numbers have been recalled.
Samsung Life had total sales of 22,717 billion won in 2011 and total assets of 161,072 billion won at 31 December 2011. [87] It is the largest provider of life insurance in South Korea. Samsung Air China Life Insurance is a 50:50 joint venture between Samsung Life Insurance and China National Aviation Holding.