It was the smartphone Galaxy Note fans had been waiting for. One that was supposed to pack in the best that Samsung had on offer along with some features that no other manufacturer could come up with. It even featured a not-so-popular iris scanner that Samsung advertised about apart from its water resistant capabilities. But even with the best design from Samsung in a decade, Samsung was in a rush to deliver its flagship product for the year before Apple and LG. Rushing your product in stores comes with some drawbacks as devices usually do not get enough time in the testing phase. And all of this (along with some bad PR) has resulted in the massacre of the Samsung brand.
We had a chat with Sanchit Vir Gogia, Chief Analyst and CEO of Greyhound Research. While the CEO commented on how Samsung seems to have done nothing to bring back the faith of its customers into their products, he also pointed out the losses. “The real impact of Samsung’s Note 7 mess up will be visible in the next 3-4 quarters. This will not die in just the next quarter. The brand has been impacted in a very huge way. Samsung should only expect a modest outcome from their upcoming smartphone announcements. Samsung has already lost 16 billion dollars in this mess and you could probably add an equal amount in terms of sales.”