“It’s a wrap for the Galaxy Note 7,” Parmy Olson reports for Forbes. “In the space of one day, Samsung has gone from saying it was ‘temporarily adjusting’ the phone’s production schedule, to permanently ending it. The company has taken the unprecedented step of scrapping its latest, flagship line of phones after a spate of battery fires sparked a botched recall of 2.5 million units, deeply damaging the company’s reputation and the Galaxy brand name.”
MacDailyNews Take: Samsung’s reputation is intact: South Korean dishwasher maker that peddles inferior iPhone knockoffs to the ignorant. We await the Samsung Supernova with bated breath – as do the world’s air travelers and insurance companies.
“Tuesday’s announcement sent Samsung’s shares down by 7.5% in Seoul, wiping out many of the gains the stock has made over the last month over a separate proposal by a U.S. hedge fund to restructure Samsung,” Olson reports. “More than a month ago, the U.S. Consumer Product Safety Commission urged all consumers who owned a Note 7 “to power them down and stop charging or using the device.'”
The permanent death of the Galaxy Note 7 “comes at a trying time for Samsung. Not only is it dealing with the radical demands of activist shareholder Elliott Management Corp., it’s also in the midst of a Supreme Court showdown with Apple,” Olson reports. “The court case is a penultimate decision that stems from Apple’s 2011 lawsuit against Samsung for patent infringement. After a California jury decided in 2012 to award Apple $400 million in damages, Samsung appealed the decision, and now the Supreme Court will consider how much of those damages Samsung should pay.”
Read more in the full article here.
MacDailyNews Take: If the U.S. Supreme Court made Samsung pay the amount it’s actually stolen from Apple over the years, there would be no Samsung left standing.
Oh well. Thankfully, Karma metes out her own justice where mere mortals fail.
Burned by Samsung? Get a real iPhone.
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