Samsung Telecommunications

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Samsung Telecommunications

Formerly	Telecommunications Network
Company type	Division
Industry	Telecommunications
Founded	1977; 47 years ago (1977) (as Telecommunication Network) Seoul, South Korea
Headquarters	Suwon , South Korea
Key people	Choi Gee-sung (President) Dong Jin Koh (CEO)[1]
Products	Telecom equipment Network equipment Mobile phones Laptop computers
Revenue	$95 Billion USD (2017)
Net income	$70 Billion USD (2017)
Owner	Samsung
Number of employees	About 325,000
Parent	Samsung Electronics (1977–present)
Website	Samsung consumer

Samsung Mobile Division is one of the five divisions within Samsung Electronics, belonging to the Samsung Group, and consists of the Mobile Communications Division, Telecommunication Systems Division, Computer Division, MP3 Business Team, Mobile Solution Centre, and Telecommunication R&D Centre. Telecommunication Business produces a full spectrum of products from mobiles and other mobile devices such as MP3 players and laptop computers to telecommunication network infrastructure. The headquarters is located in Suwon, South Korea.

In 2007 Samsung Mobile Division Business reported over 40% growth and became the second largest mobile device manufacturer in the world.^[2] Its market share was 14% in Q4 2007, growing up from 11.3% in Q4 2006.^[3] At the end of November 2011, Samsung sold more than 300 million mobile devices which was a close second after Nokia with 300.6 million mobile devices sold in the first three quarter of 2011.^[4] As of Q3 2012, Samsung is the largest manufacturer of devices running Google's Android with a 46% market share.^[5]

On 19 August 2016, Samsung officially released its Samsung Galaxy Note 7. As of 2 September 2016, Samsung announced a voluntary recall and attached to the new exchange program after numerous reports showed that the new Samsung Galaxy Note 7 burst and exploded. On 10 October 2016, in response to the new incidents, Samsung announced that it would once again suspend sales of the Galaxy Note 7 and recall all devices worldwide. The next day, Samsung also announced that it would permanently discontinue the Galaxy Note 7 and stop its production.

As of October 7, comments have emerged from former CSPC experts following its launch of the investigation into the above incident.^{[clarification needed]}

A lawsuit^{[citation needed]},^[6] filed in the US district court in California, stated that the tech malfunctions extend beyond the Galaxy Note 7 and that Samsung “chose to conceal the problem from the public despite knowing the foreseeable and predictable risk that the phone may overheat, flame and destruct from the inside presenting a risk of serious harm or injury”.

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% compared 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.^{[citation needed]}