Samsung’s exploding S7 recall couldn’t come at a worst time as Apple gears up to announce the iPhone 7 in five days.
Samsung has been forced to do a complete recall of some 2.5 million phones due to a charging malfunction that causes the phone to literally burst into flames.
“There have been 35 cases that have been reported globally and we are currently conducting a thorough inspection with our suppliers,” Allison PR, the public relations firm for Samsung’s mobile operations, told the Daily Caller News Foundation
Samsung promises to give a new phone to anyone affected by the technological malfunctions. The company will “announce the details of the U.S. product exchange program as soon as today,” the PR firm tells the DCNF.
Experts note the total recall damage the company could incur is in the hundreds of millions of dollars, according to Business Insider.
Investors in Samsung have dropped out in droves. Following the recall, the company’s stock hit a two-week low and lost $7 billion off it’s market value, Reuters reports.
While on the surface this alone seems like a catastrophic event for Samsung, it is exacerbated by the fact that Apple is expected to announce the iPhone 7 Sept. 7.
Samsung had just outpaced it’s rival, overtaking Apple in the U.S. market by five percent in March of 2016, according to analysis by Counterpoint Research.
The expectations for the iPhone 7 are less than stellar, further adding insult to injury for Korean technology firm that was in perfect position to continue vying for market dominance.
The phone company is “committed to producing the highest quality products and we take every incident report from our valued customers very seriously,” Allison PR told the DCNF.
Samsung expressed that it “acknowledge(s) the inconvenience this may cause in the market,” but that the company wants to “ensure that Samsung continues to deliver the highest quality products to our customers,” Allison tells TheDCNF.
The company wants it’s customers to know that it is “working closely with our partners to ensure the replacement experience is as convenient and efficient as possible.”
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