Samsung’s shares suffers plunge as FAA announces Note 7 ban
There is no doubt that not only the image of Samsung would suffer from the current issue facing the Galaxy Note 7 but their pockets would have holes to tell this story in the future.
Current, estimates have given that the recall programme alone is enough to make the global brand lose in excess of $1 billion but with the recent banning of the device on flights by the FAA, Samsung is set to suffer more since their stocks and shares took a major plunge for the down low.
The announcement given by FAA was one of the final nails that entered the coffin already sealing the brand as investors seemed to all be pulling out and taking their business elsewhere, at least, for the time being. Overall, the amount that got shaved off the company’s shares amounted to a whopping $10 billion, leading to further devaluation of the brand and its mobile division.
Right now, we hope that Samsung can do something fast to return themselves to the top of the Android market, especially with Apple grabbing all the headlines with the latest release of their iPhone 7 and iPhone 7 Plus.
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