Samsung Electronics (SSNLF) said Friday will publish a report into its Galaxy Note 7 recall next week amid reports that odd-sized batteries caused overheating and fires that ultimately killed the company's flagship smartphone.
Samsung executives will hold a press conference on Monday Jan. 23 to announce the results of its months-long investigation into the Galaxy Note 7 fiasco, which led to the recall of 2.5 million phones and cost the firm more than $5 billion, with the head of its mobile unit, Koh Dong-jin, slated to appear alongside independent experts.
Both the Reuters and the Wall Street Journal have reported that irregular-sized batteries were the cause of the fires, which began to gain media attention shortly after their August 2016 launch. A Samsung affiliate, Samsung SDI Co, and Amperex Technology Ltd. of Hong Kong were the two main suppliers of Galaxy Note 7 batteries, the Wall Street Journal reported.
Samsung shares closed marginally at 1,860,000 won each Friday in Seoul, down 0.75% on the session against a broader 0.4% decline for the benchmark KOSPI.
However, the company's attempt to draw a line under the humiliating recall have been shrouded by an intensifying effort by South Korean legal authorities to link its executives to an influence-peddling probe that reaches all the way to the top of the country's political establishment.
Special prosecutors said Friday that they will seek permission to question executive vice-president Hwang Sung-Soo as part of its investigation into allegations that vice chairman Jay Y. Lee paid more than $37 million in bribes to a close associate of impeached President Park Geun-hye.
Lee himself was released from custody earlier this week after a South Korean court rejected an arrest warrant request, although authorities have vowed to continue pursing the 64-year son of former chairman Lee Kun-Hee.