The Samsung Galaxy Note 7 has been heralded as one of the best phones of 2016, but in its pictured state it’s about as much use as golf clubs for a giraffe. Apple is said to launch its iPhone 7 and 7 Plus on September 7, which could attract customers away from Samsung. It’s entirely possible that this was a manufacturing defect and the charger had nothing to do with it, but just to be on the safe side, Note 7 owners should probably use the equipment supplied by Samsung until we get to the bottom of this. Though solid demand could help Samsung deliver strong quarterly results, investors fear that supply shortage may cause Samsung to miss out on potential sales.
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Samsung’s shares were down 2% on Wednesday (24 August at 3.39pm BST) following a record high it hit the previous day (23 August).
Chung said Samsung might sell 15 million Note 7 devices this year, when compared to the nine million Galaxy Note 5 sold a year ago.
Launched earlier this year in South Korea and the United Kingdom, the program allows Galaxy S7 and S7 Edge customers to pay a 10 percent deposit up front; the remaining portion is financed over 24 months at 14.9 percent interest.
Samsung is seen growing faster over competitor Apple Pay because Samsung’s smartphone reads magnetic cards, which are more commonly used in other parts of the world while Apple Pay only accepts near field communication payment systems.
The Samsung Galaxy Note 7 is the latest “phablet” in the series and differentiates itself from its predecessors with new features, including but not limited to water-resistance and a waterproof S Pen stylus.
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Samsung only said that it’s trying to increase production, without going into further detail.
