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Wednesday, October 12, 2016

Samsung Permanently Halts Galaxy Note 7 Production: Set To Lose A Whooping $17 Billion!!!

After a series of Samsung Note 7 explosion incidents, Samsung has officially announced the permanent halt of Samsung Galaxy Note 7 productions, asking all Samsung Note 7 users -both old and new users - to switch off the device and return them (to be switched to any other Samsung device or even another manufacturer's device, OUCH!).
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"Taking our customer's safety as our highest priority, we have decided to halt sales and production of the Galaxy Note 7,"
Samsung did try their best to curb the initial damage caused by explosion incidents by globally recalling the Samsung Galaxy Note 7 and replacing with the Samsung Galaxy S7 and S7 edge.
After 3 weeks of the first wave of explosion incidents, Samsung relaunched a new line of "Safe Samsung Galaxy Note 7", but
those (safe Galaxy Note 7) also joined the explosion gang, with explosion incidents also recorded.
This is a financially devastating move for the company, but it remains the right move nonetheless as customers' safety should always remain the priority.
Samsung estimated a loss of $1 billion during the first recall but with the permanent halt of production, the loss is now estimated to be up to $17 billion which is attributed of the loss related to the disposing the current Samsung Note 7 devices safely along with compensation to users.
Apple are grinning, Apple are smiling (Schadenfreude mode on fleek, EISH!)
Samsung at this point just have to focus on their next smartphone production: Samsung Galaxy S8 and hope the Samsung Galaxy S7 and S7 edge sales hits a height to soften the blow of the loss from the Samsung Galaxy Note 7 misfortune 
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