Samsung has really suffered a huge set back after the Note 7 and Washing machine fiasco and they are working hard to redeem their image the world over. After huge pitfall in shares, the market are not favoring Samsung at all. Samsung in the past months have lost the market to Apple’s iPhone 7. People will be kind of scared about all Samsung products going forward if nothing is done immediately to salvage this situation.
Samsung is resuming sales of its Galaxy Note 7 smartphones in South Korea following a safety recall. They are set to return to Europe on 28 October.
Samsung asked customers to return their handsets after some users reported their phone had exploded during or after charging. The firm said that battery problems were behind phones catching fire.
Samsung had sold about 2.5 million Galaxy Note 7 devices across the world before the recall. In South Korea about 80% of those sold have been returned to be replaced.
In Europe and North America the figure is lower but still way above 50%, according to company sources.
Samsung insiders say that 95% of the people returning their handset are opting to continue with a Samsung model. One advantage Samsung has over their competitors is consumer loyalty. Even after this not so pleasant situation, consumers who returned their Note 7 units during the recall are waiting eagerly for the new one.
But there has clearly being a tank to the brand, one on which the monetary value will be very hard to determine right now even though we here Samsung has lost a billion dollars already. The brand has been tarnished. Samsung has prided itself on making the most of its components.
See Also : Samsung Loses $1 billion dollars
Airport around the world have banned users from carry or using Note 7 on board any aircraft. Will the airports now lift the bans after the recall?
In the crucial Chinese market, the iPhone has a huge cachet. Samsung has suffered a huge competition blow to Apple in these past months.