It’s no longer news that Samsung has been reeling in pains since the release of Galaxy Note-7, Samsung’s tech rivals have already begun to feast from the carcass of the exploding Note 7 debacle as Apple posted its highest share price in almost a year.
In the wake of the painfully drawn-out Note 7 battery issue which started when consumers began complaining of their handsets going up in smoke, which then lead to a mass recall and replacement operation, only to see those replacement units also suffer from the exploding issue, Apple’s share price has risen by 2.3%.
Despite trying to stamp out the issue, the company has officially decided to discontinue sales and production of the product less than two months after it’s launch for the sake of consumer safety, leaving Samsung with an estimated $17bn bill. With customers no longer being able to purchase or replace the Note 7 it will leave consumers shopping around for an alternative, making the iPhone 7 Plus a very appealing option.
Apple and other tech companies would potentially sell additional units as the fallout from killing off the Note 7 continues.