[Rétro 16’] 5 news in international tech in 2016
Samsung pays dearly for Galaxy Note 7 fiasco
The Galaxy Note 7 was to be the jewel of Samsung able to compete head-on with the iPhone, it finally turned into a real nightmare for the South Korean manufacturer. Due to multiple explosions of defective models, Samsung has decided to abandon production of its flagship smartphone. This industrial fiasco was not without consequences on the group’s results.
In the third quarter of 2016, Samsung thus announced a 30% drop in operating profits. The situation is even more dire in terms of operating profit for the mobile division of the South Korean manufacturer, which collapsed 98% between July and September. Analysts estimate that this unprecedented failure could cost Samsung up to $ 10 billion. Now, the manufacturer is counting on the Galaxy S8, which should be launched in the first half of 2017, to make people forget the painful memory of the Galaxy Note 7.