Featured Product Safety Recalls
September 8, 2016

Consumer Watch Alert: Samsung Galaxy Note 7 Blows Up!

Samsung Note 7, Product Recall_Consumer Affairs Watch

Consumer Watch Product Recall: Samsung Galaxy Note 7

A new Consumer Watch Alert highlights how Multinational South Korean Electronics company, Samsung, is facing a catastrophic set back as it launches a global product recall, and halts production of its new Galaxy Smartphone, the Note 7.

The crisis is estimated to cost the company close to $1 billion.  Than’s according to Bloomberg, which surveyed estimates from Credit Suisse, Daisha Securities, and Pelham Smithers Associates.  Several phones are apparently “blowing up” due to exploding batteries.

The recall comes at a time when Samsung was finally on the upswing.  In fact, Galaxy’s biggest competitor, the iPhone by Apple, was not expected to do well in 2017.

In fact, the new Galaxy had been receiving positive reviews and for the first time in recent memory, when news of the recall hit Wall Street, the consumer markets reportedly got a bit spooked.