Fires Kill Note 7, Burn $17 Bn Of Samsung’s Market Value

Samsung Electronics is ending production of its problematic Galaxy Note 7 smartphones, taking the drastic step of killing off a device that became a major headache for the South Korean electronics maker.

Sanchit Vir Gogia, Chief Analyst & CEO, Greyhound Research said, “Samsung has handled their communication rather poorly. It appears no one in the company is aware of what’s going on to fix the problem. the incident has created a lot of awareness among customers not only through the press, but also through announcements in each and every flight in India. This will impact brand Samsung immensely and subsequent releases of the Galaxy Note series will be seen with suspicion by consumers”.

Source: Hindu Business Line

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