The crisis also impacted its numerous suppliers with losses estimated at up to $1.7 bn
Samsung halted production of the phone less than two months after its launch, following reports that in some instances their batteries caught fire
Samsung on Tuesday scrapped the $882 flagship smartphone, in what could be one of the costliest product safety failures in tech history
HP's office in Seoul could not be reached immediately for comment
Samsung had announced the acquisition in June but did not disclose the financial terms at the time
Some analysts say that the tech giant shipped around 16 million Galaxy S7s in April-June
The second Samsung model will have a 5-inch screen when used as a handset, that unfurls into a display that's as large as 8 inches, similar to a tablet, the people said
The mobile division was the South Korean firm's biggest earner for the 1st time since the 2nd quarter of 2014.