S. Korea's industrial output slumps as Note 7 discontinued

Nov 30, 2016

Production in all South Korean industries dipped 0.4% in October as railway workers went on strikes

South Korea's industrial output fell in October as Samsung Electronics discontinued its latest flagship Galaxy Note 7 smartphones, a government report said on Wednesday.

Production in all South Korean industries dipped 0.4 per cent in October as railway workers went on strikes, Xinhua news reported.

Production slided further from previous months according to Statistics Korea.

Samsung's ending of production and sales in its latest Galaxy devices led the production in communication and broadcasting equipment to tumble 18.1 per cent in October.

Railway workers went on strikes amid the ongoing restructuring in troubled shipbuilders and shipping companies, further weighing down on the service industry.

Source: Business Standard