A visitor tries out a Samsung Electronics Galaxy S7 Edge smartphone at its shop in Seoul, South Korea, Friday, Oct. 14, 2016. (AP Photo/Lee Jin-man)
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Samsung Electronics said Tuesday it would compensate suppliers hit by the decision to scrap its Galaxy Note 7 smartphones because of safety fears with exploding batteries.Samsung said the affair would cost the company an estimated $5.3 billion in lost profits over the three quarters beginning July.The central Bank of Korea said it had taken the crisis into consideration when it trimmed South Korea's 2017 growth outlook to 2.8 percent last week from its previous 2.9 percent forecast.
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