“When Samsung announced it would recall its Galaxy Note 7 devices due to explosive battery mishaps, airlines and regulators acted swiftly,” Quartz reports. “So did Samsung investors.”

“Shares of Samsung Electronics, which includes the Korean conglomerate’s smartphone division, plunged 6.9% between the Korea Exchange’s close on Friday and Monday, according to the financial data company Factset,” Quartz reports. “The stock is currently priced at 1.465 million won ($1,311.26), bringing it to lows not seen since July, and down 13% from its most recent high, on Aug. 23. Since the company announced it would recall the Galaxy Note 7, the company has shed over 28 trillion won (more than $26 billion) off its market cap.”

“Over the weekend, more airlines and regulators urged customers to proceed with caution when taking Galaxy Note 7 devices aboard. The European Aviation Safety Agency reminded passengers to keep the devices turned off during flight, as did Delta Airlines, Singapore Airlines, and other carriers,” Quartz reports. “For Samsung, the recall couldn’t come at a worse time—not only is the holiday season just around the corner, but arch-rival Apple just released the iPhone 7 [and iPhone 7 Plus].”

Read more in the full article here.

MacDailyNews Take: Karma continues her good work.

It’s best not to mess with karma. — Steve Jobs

If it’s not an iPhone, it’s an incendiary device cobbled together by a South Korean dishwasher maker.

Jeep charging a Samsung Galaxy Note 7 (left) and a Jeep charing an Apple iPhone (right)

Jeep charging a Samsung Galaxy Note 7 (left) and a Jeep charging an Apple iPhone (right)

 

Garage charging a Samsung Galaxy Note 7 (left) and a garage charging an Apple iPhone (right)

Garage charging a Samsung Galaxy Note 7 (left) and a garage charging an Apple iPhone (right)

SEE ALSO:
FAA warns airline passengers not to use Samsung phones – September 9, 2016
Beleaguered Samsung’s exploding Galaxy Note 7 destroys garage; home condemned due to fire – September 9, 2016
Beleaguered Samsung’s exploding Galaxy Note 7 destroys Florida man’s Jeep – September 8, 2016
Beleaguered Samsung’s exploding Galaxy Note 7 burns down garage; destroys Jeep in another case; airlines now banning potentially deadly device – September 8, 2016
Apple orders more parts for iPhone 7 amid Samsung recalls – September 6, 2016
Exploding Samsung Galaxy Note 7 damages Perth hotel room – September 6, 2016
Beleaguered Samsung blows it in rush to beat Apple iPhone 7 to market – September 6, 2016
Apple stock up, may benefit from beleaguered Samsung’s exploding Galaxy devices – September 2, 2016
Beleaguered Samsung to recall 2.5 million Galaxy Note 7 units over exploding batteries – September 2, 2016
Samsung may be forced to recall Galaxy Note 7 over exploding batteries – September 1, 2016
Samsung halts Galaxy Note 7 shipments due to battery explosions – August 31, 2016
Ben Bajarin: ‘Samsung will be out of the smartphone business within five years’ – November 2, 2015
Apple’s iPhone can soon reap 100 percent of world’s smartphone profits – November 17, 2015
Apple’s iPhone owns 94% of smartphone industry’s profits – November 16, 2015
Poor man’s iPhone: Android on the decline – February 26, 2015
Study: iPhone users are smarter and richer than those who settle for Android phones – January 22, 2015
Why Android users can’t have the nicest things – January 5, 2015
iPhone users earn significantly more than those who settle for Android phones – October 8, 2014
Yet more proof that Android is for poor people – June 27, 2014
More proof that Android is for poor people – May 13, 2014
Android users poorer, shorter, unhealthier, less educated, far less charitable than Apple iPhone users – November 13, 2013
IDC data shows two thirds of Android’s 81% smartphone share are cheap junk phones – November 13, 2013
CIRP: Apple iPhone users are younger, richer, and better educated than those who settle for Samsung knockoff phones – August 19, 2013