Samsung Electronics Co Ltd said on Tuesday it will compensate component suppliers for the discontinued Galaxy Note 7 smartphones and consider giving them orders for other models to cushion the blow. The world's top smartphone maker said it would fully pay for unused Note 7 parts that have already been manufactured, compensate suppliers for unfinished components and pay for materials bought to make Note 7 parts. Also Read: Are Google Glass, Note 7 tech failures of recent times? A deputy finance minister said the fallout could hurt the economy during the third and fourth quarters of the year. Also Read: Note 7 is history, Samsung to launch Galaxy S8 on Feb 26

Source: India Today October 18, 2016 10:52 UTC