- Oct 6, 2011
- Reaction score
We all know by now that what ended up being the best phone of the year has also been recalled twice and discontinued due to the fact that it has a tendency to randomly explode. We already knew that the initial recall of the device cost Samsung about $1Billion, but it turns out the Note 7 debacle will end up costing Samsung much more.
The fact that the Note 7 has been discontinued means that Samsung will need to refund all the sales that were made. They are also having to miss out on sales for the next several months leading up to the Galaxy S8 release. To soften the blow Samsung has made a push to market the S7 and S7 Edge in hopes that consumers will be willing to pick up these devices in place of the Note 7 they had or would have purchased. Luckily Samsung will still be plenty profitable even thought the expect to lose $3Billion over the next few months in revenue and losses.