Samsung Electronics shares open lower on Note 7 collapse

Shares of Samsung Electronics opened weaker on Monday as several airlines had decided to ban Galaxy Note 7 mobile phones from flights.  Shares of Samsung were down 1.08 percent in early Monday. The shares on Thursday rebounded for the first time after three straight days of falls following its decision to permanently end sales of its fire-prone Galaxy Note 7 smartphones. Earlier on Saturday, Singapore Airlines said it had banned the mobile phones and U.S. regulators said on Friday the devices would be banned starting from Saturday noon under an emergency order. Samsung Electronics Co Ltd scrapped its flagship Galaxy Note 7 smartphone on Tuesday because of incidents where the phones began smoking or caught fire, dealing a huge blow to its reputation.