Last week, Samsung announced it would be withdrawing its Galaxy Note 7 from sale, including the 2.5m handsets it had already sold, following reports of the battery catching fire.

According to figures compiled by Bloomberg, that decision could cost the company as much as $1bn (£750m).

Samsung hasnt revealed any official figures – though president of mobile Koh Dong-jin did tell reporters it “will cost so much it makes my heart ache” – so this number is based on estimates Estimates from Credit Suisse Group, Daishin Securities and Pelham Smithers Associates, all of whom placed the figure at the $1bn mark or lower.

According to Credit Suisse, each Note 7 sold pulls in $600 of revenue and $108 of profit for Samsung. Bloomberg cites analyst Keon Hans projected target of 4-5m Note shipments in the current quarter and 8-9m for the next.

How much this recall will impact on those figures – a replacement Note 7 without the fault will be available to customers, but the news could be damaging to the brands reputation – remains to be seen.