I’m sure you’ve all heard about the latest tragedy for Samsung, their Galaxy Note 7 phones being recalled after battery fires have frightened many owners. If you are an owner of an iPhone or another top phone brand, you’ll surely be glad that you didn’t opt for the one that has the risk of being caught alight, however there’s certainly many Note 7 owners who are very disappointed in what they’ve purchased.
Samsung is a well-known and trusted brand and of course the stories of their phones blowing up and causing fire damage are going to influence the company’s income. However other leading smart phone companies will be rubbing their hands together as they’ll surely see their profits rise. In fact, Samsung’s downfall, has sent Apple’s shares to a 10-month high!
The Galaxy Note 7 amazed technology lovers when it was first released, with it’s stylus pen and grand screen space, however it seems that it’s highlights have been diminished by the flaws that have been recently reported on. Clicking on Samsung’s website you can see that they have replaced the phone’s high tech spec with warnings about the phone and instructions on how to tell if your phone is in danger of setting alight and what to do about it!
News released today by the BBC states that ‘The South Korean firm now expects third quarter profits of 5.2tn won ($4.7bn; £3.8bn), which is a third lower than its original estimate of 7.8tn won.’
With Christmas creeping up and kids asking for new phones, parents are surely going to shy away from the Samsung option, therefore we could see Samsung’s profits drop even more, so let’s hope that they can keep themselves afloat with their other products!