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Samsung shares plunge after Note 7 smartphone recall
Samsung plans a software update for its Galaxy Note 7 created to prevent the battery in the mobile phone from exploding or catching fire.
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Samsung Electronics Co. said Tuesday that it has made a decision to launch media advertisements to apologize for the ongoing global recall of its Galaxy Note 7 smartphones. “Customers who have Galaxy Note 7 devices can replace their current device with a new device based on local availability”, the company said. Munster noted that the Korean firm’s 2.5 million Galaxy Note 7 recall comes in the middle of the launch of Apple’s iPhone 7.
But the boy’s mother said outside their home Monday the device is a Galaxy Core, not the recalled Note 7. Samsung is advertising a release date of September 20 for its South Korean users. The update is being viewed as a last ditch effort by Samsung to convince Note 7 owners to realise the severity of the issue.
Separately, on Saturday, the company put out a statement urging customers to exchange their Note 7s through a replacement program.
The number of bad batteries remains small, but the potential impact on Samsung’s brand remains to be seen.
In other countries, such as the United States, Note7 users have not just the option of a one-to-one exchange, but they can also opt to get another new handset from Samsung instead of the Note7, or ask for a full refund. Aviation regulators and airlines have deemed the Note 7 a flight hazard and the U.S. Consumer Product Safety Commission is considering an official product recall. “But it feels like (Samsung) is trying to make up for it with that”, he said, referring to the pizza.
Analysts and investors said Lee’s move to take a board seat at the flagship of South Korea’s top conglomerate will improve transparency and corporate governance for Samsung Electronics. “The smoke was unbearable”, phone owner Joni Barwick said. The device’s lithium ion batteries can explode or ignite, sparking as many as 35 reported fires.
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Samsung has confirmed working with Health Canada and said the terms of the recall will be announced as soon as they become available.