Samsung Electronics shares opened up 1 percent on Thursday (October 13), rebounding for the first time after three straight days of falls following its decision to permanently end sales of its fire-prone Galaxy Note 7 smartphones.
The shares were trading up 1.3 percent as of 0007 GMT, outperforming the main bourse which was largely unchanged from its previous closing level.
Samsung Electronics scrapped its flagship Galaxy Note 7 smartphone on Tuesday (October 11) less than two months after its launch, dealing a huge blow to its reputation and outlook after failing to resolve safety concerns.
Samsung announced the recall of 2.5 million Note 7s in early September following numerous reports of the phones catching fire and on Tuesday it finally pulled the plug on the $882 device in what could be one of the costliest product safety failures in tech history.
The decision to scrap the Note 7 came after fresh reports of fires in replacement devices prompted new warnings from regulators, phone carriers and airlines.
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