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		</div><p>Samsung has said the discontinuation of the Galaxy Note 7 will cost the company about $3bn (£2.45bn) during the current and next quarters, bringing the total cost of the recall to at least $5.3bn (£4.3bn).</p>
<p>The discontinuation will cost in the mid-2 trillion won range during the October-December period and another trillion won (£722m) during the January-March quarter, the company said in a statement.</p>
<p>Samsung had already slashed its third-quarter profit forecast by $2.3bn (£18bn) earlier this week, an amount that could wipe out its entire mobile business profit.</p>
<p>That did not include the cost of Samsung&#8217;s first round of recall, which analysts estimated at between 1 trillion and 2 trillion won (£722m to £1.4bn).</p>
<p>Samsung has enough cash and other businesses to absorb the shock from the phone recall. It said it expected to generate 5.2 trillion won (£3.7bn) in operating income during the third quarter after the recall cost.</p>
<p>Analysts said most of the income will be generated by its businesses in advanced displays and semiconductors.</p>
<p>Samsung added that it will make significant changes in its quality assurance processes.</p>
<p>Due to mysterious fires and overheating problems, more than 2.5 million Galaxy Note 7 smartphones were recalled twice, before the model was discontinued earlier this week two months after its launch in August.</p>
<p>In the US, 1.9 million Note 7 phones were subject to the two recalls. Samsung also recalled about 200,000 in China and about half a million in South Korea.</p>
<p>The US Consumer Product Safety Commission said there were 96 reports of batteries in Note 7 phones overheating in the country, including 23 new reports since the first recall announcement last month.</p>
<p>The company received 13 reports of burns and 47 reports of property damages associated with the phones.</p>
<p>&#8220;Consumers should immediately stop using and power down all Galaxy Note 7 devices, including Note 7 devices received as replacements in the previous recall,&#8221; the agency said.</p>
<p>The botched recall raised questions about Samsung&#8217;s initial analysis of the Note 7 phone&#8217;s problems. At first, Samsung said a minor manufacturing error in the batteries was causing the phones to overheat.</p>
<p>The problem with the replacements is still unclear. Experts say Samsung may have rushed to conclude the Note 7&#8217;s problem was a battery issue and it may take a long time to find the real cause.</p>
<p>The Note 7 device was one of the most expensive smartphones on the market with all the latest technologies from Samsung, including the ability to unlock the phone by scanning a user&#8217;s iris.</p>
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