In his New Year’s speech, the chief executive officer of Samsung Electronics, Kwon Oh-Hyun, said that the smartphone maker will be working towards improving the attributes and quality of its products and there would not be many compromises about it. Further, the CEO mentioned about the uncertainties and risks associated with foreign rates of exchange.
Samsung to reveal the reason behind overheating and explosion of Galaxy Note 7
Oh-Hyun asked the employees of the company to upgrade the production techniques and improve the safety look-over. The smartphone making giant decided to investigate into the matter after a series of incidents reported the Galaxy Note 7 catching fire upon overheating. The smartphone maker decided to investigate the main cause of the issue.
A report in relation to these investigations will be declared by the smartphone maker this month, according to JoongAng Ilbo. The Korean smartphone company had suggested after examining various aspects of the phone that the safety failure could have occurred due to a combination of many factors that led to one of the most expensive tech failures in the history of tech.
In the recent past, there have been several reports regarding the overheating of the Samsung Galaxy Note 7 and there were explosions of the phone in some cases as well. Several airlines have even prohibited users from carrying the Note 7 devices to prevent any disturbing incidents.
Many investors and analysts of the company made it pretty certain that it is very essential for the Korean giant to investigate and analyze the main essence of the issue which resulted in the overheating and the explosion of the Note 7 handsets. It is important for the Korean smartphone maker to ponder over these incidents to avoid rerunning of the mistakes and to win back the trust of its customers.
Samsung Electronics predicted its loss in October last year
The Korean company was in a strained position after so many incidents so it decided to inspect the problem. In December 2016, the smartphone maker had issued a statement that the company had completed all the investigations regarding the root cause of this problem.
The South Korea-based company reported then that it has possessed 90% of the Galaxy Note 7 smartphones in the US. Also, an update is to be issued by the company to the remaining 10% of the users with the handsets getting bricked.
According to reports, the company had predicted in October 2016 that there could be a loss of around US$5.1 million, almost $74 million, to its recurring profit over the next three-quarters after the Korean smartphone maker decided to fully halt the sales of Galaxy Note 7.
The spokesman of Samsung Electronics declined to say anything on the matter but he did say that security will be “maintained until the time of publication”.