Samsung Latest News & Updates: Despite Galaxy Note 7 Crisis, New S8 Reports, Pixel Competition Prompt First Share Rise In Four Days
Samsung's flagship widescreen phone, the Galaxy Note 7, has been all over the news but not in a positive light. News of it exploding due to faulty wiring or battery technologies has left even the most loyal customers dropping their plans for it or looking for an alternative.
While the most visible competitor would be the iPhone 7, a new product from a not so new name in technology, Google, has arisen and this could be the answer to all those woes. Bloomberg reports that in response to the exploding phone dilemma, Samsung recalled and vowed to replace millions of Note 7 phones.
This, however, did not appear to end the dilemma as new reports have emerged that even the replacements units have been exploding into flames. Samsung then, asked all retailers to stop selling the Note 7 phones while the company and government officials are currently investigating as to why the new batch seems to be afflicted with this problem.
This seems to be a bad time to have such a crisis as most people upgrade their phones during the Christmas season. This gives Apple and Google a good opportunity to fill in the space left vacant by the Note 7 issue and could make it harder for Samsung to bounce back.
Those who have been comfortable using the Android OS for the past years might consider the latest phone created by no other than Google itself: Pixel. The Country Caller reports that shares of Samsung have risen for the first time recently since the company halted the production of the Note 7.
This jump might be because of some news of the Galaxy S8 which is bound to be released anytime soon. Sources say that the company has been working day and night on its latest flagship and plan to release it to the market as early as February 2017.
There have been no confirmations as to when exactly the S8 will be released, but it is quite obvious that Samsung has a name and a reputation to redeem. Samsung has been a top performer in the stock market until its Note 7 fiasco so it looks like it has to double its efforts to put all these issues behind it and regain the top spot.