The first time I watched a tragedy I didn’t really understand the death of the protagonist. I was expecting the protagonist to suddenly wake up and say “April fool”. But this was not the case, and by the time they started heaping sand on him, I was already heaping tears on my towel.
Well, Samsung has suffered such an unscripted tragedy. Despite the great fanfare that surrounded the unveiling of the Samsung Note 7, the case of explosive batteries made it such a big tech joke of the year. Samsung had tried to savage the Note 7 with a recall program but the problem remained forcing Samsung to officially stop the production of the Note 7.
At first we thought the Note 7 disaster would only hurt the reputation and consumer trust of Samsung but now we are discovering that the Note 7 has actually taken a bigger bite on Samsung’s purse. Samsung has formally chopped down its third-quarter profit estimate by a third fraction. This loss amounts to $3 billion that Samsung would be losing after deciding to to recall and cease production of the explosion-prone flagship Galaxy Note 7.
Samsung sadly revealed that its preliminary third-quarter earnings and operating profit for its third quarter had drastically dropped down to 5.2 trillion won (won is the official currency of South Korea).
The reality of the failed Note 7 has compelled Samsung to revise its estimated profit as a result of its applauded move to stop producing the Galaxy Note 7.
Samsung first made an official announcement pushing for the return of the fire-vulnerable device at the beginning of September with incessant cases of the smartphones were overheating and eventually exploding fire; but at the end the replacement program was another semester of failure as Samsung could learn the problem.