Nokia Charger Recall Causes BYD Co Shares Fall

The Battery producing arm of BYD Co, BYD Electronics has seen a fall of 4.4% in shares as a result of Nokia announcing they will replace 14 million mobile phone chargers made by Chinese BYD Co reports Reuters.

Nokia stated BYD would cover the costs of recalling the faulty chargers; you can read our report on the Nokia recall (here), which Nokia says could give a user an electric shock.

BYD Co stock dropped 4.4% to a low HK$6.70 just after the market opened and under-performing a 1.3% gain by the benchmark Hang Seng Index, and Credit Suisse downgraded the stock to “underperform” from “neutral.”

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