With Samsung now having stopped production of the Galaxy S7 altogether, is there any more hope for the company that once had a solid foundation set with it’s customers? At the moment, with the stocks having dropped 8% (that’s $17 billion), it looks like there is none.
It all started when the Galaxy S7 was released in late August this year- after positive praise was given by reviewers, people found that the phone exploded.
Samsung recalled their phones and tried replacing the battery, but people found that it still exploded- so Samsung recalled all of the phones again, only to do as aforementioned.
Now, it is worthy of mentioning that Nokia had a very similar issue in the late 00’s, when the batteries in their phones began to explode. It brought down their company hard, and to this day they still can’t even compete with Apple or Samsung.
Several students seem to think that this event will not be pondered for too long. Mateo ’18 – has this to say; “They’re a major phone staple… There might be some skepticism, but I don’t think their company will be affected that much.”
This word seems to be the most true: Samsung stocks still outweigh even companies such as Apple, and seem to be getting better with time. Seeing a company so big as Samsung lose stocks, people have decided to invest in the market, and the Samsung stocks may rise to normal again sometime in the near future.
Even though there seems to be a potential of such a large boost in stock again, customers will still have to try and adapt back into trusting the once fan-favourite brand.