Amidst the Samsung Note 7 battery issue, Samsung finally catches some breath. After issuing a recall of all the Samsung Note 7 units, reports are still coming left and right about the phone getting hot or exploding.
The stocks of the South Korean Company went down in the blink of an eye after the incident, on a total of US$14 billion loss in market value last Monday. But they started to kick back in and it went up to 4.2 percent higher on Tuesday.
This may be because of the fewer fire and explosion cases reported about the "hot batteries" of the said phone.
After the reports went out, Samsung immediately stopped sales and shipments, went on the investigation that eventually led to the phone recall.
"Samsung continues to ensure that consumer safety remains our top priority," said Tim Baxter, President of Samsung Electronics, America.
This battery issue that caused panic to users also poses a threat to aircraft and vehicles if charged or turned on an aircraft and inside vehicles.
Users are urged to completely stop using their devices and have it exchanged immediately.
The US, Samsung announced that Galaxy Note 7 users may exchange their phones with a new Galaxy Note 7, or for a Galaxy S7 or Galaxy S7 edge, with price differences refunded. Device owners will also receive accessory exchanges and $25 gift cards.
Samsung will replace all the faulty batteries and will have Amperex Technology as their new supplier for the Galaxy Note 7 batteries.
"The battery issue is causing significant damage to the Samsung brand," Jeff Kagan, an independent telecom analyst told the E-Commerce Times. "The only question is how much damage will occur."
Lithium-ion batteries used in mobile phones are high-powered batteries encased in a small package. This kind of small-packaged, intense energy is really very likely to produce fire because of overheating.
This Samsung Galaxy Note 7 battery issue did cost the leading smartphone market shareholder bigtime. While this is hitting Samsung, leading competitor Apple is now going on with the sales of their new iPhone 7, which is reportedly "selling like pancakes on eBay."
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