Samsung Electronics Co., Ltd. (005930) partner factory catches on fire
Samsung Electronics Co., Ltd. (KRX:005930) has to put out some fires as they prepare to launch the Galaxy S5 in April, literally. A fire at a printed circuit board (PCB) manufacturing plant took place in Anseong, South Korea, according to Asia News Agency.
The fire took place at 7AM local time on Sunday. The fire took 8 hours to put out as 264 firefighters and 81 vehicles arrived at the scene. The fire caused over $1 billion in equipment and component damage. The fire caused $1 billion in equipment and component damage. The factory is actually a Samsung partner that makes printed circuit boards for the Galaxy S5.
This could cause a delay in the deliveries of the S5. Fortunately, Samsung said that this factory is not the only one of its kind that was contracted by Samsung. Samsung is expected to launch the S5 in the U.S. on April 11th.