Samsung Stock Drops Giving Loss worth $19 Billion after Note 7 Recall

Samsung recently announced it's Note series flagship smartphone called the Samsung Galaxy Note 7 although it is a very beautiful phone it has almost same specifications as Samsung Galaxy S7 and S7 Edge but has a bigger screen and an S-Pen from which one can write one the screen and use it for other multiple tasks, it features Iris scanner which is an eyesight sensor it is used as a phone lock also this phone is water resistant, Samsung sold a lot of Note 7's worldwide and it was praised by almost everyone who had their hands on one of the device this was until a news came up reporting that Note 7 battery exploded while charging resulting in burning user’s hand.

This first report was not seriously taken because only one incident came up but after a while another news popped up that another Note 7 has exploded while charging that was when Samsung realized that something is wrong and suddenly another incident was reported that another Note 7 exploded while charging in a hotel room which caused damage of an estimated 1390$ this was the very moment when Samsung realized that they are in trouble after a while another incident was reported that a guy’s jeep got burned giving him a bigger loss this was the moment when Samsung Recalled the Note 7 and stated that they will replace previously sold units with a new one.

This was not less, another incident was reported that a guy got his garage burned down which also caused a lot of damage and loss also United States Federal Aviation Administration also banned the use of Note 7 and therefore Note 7 should not be taken in a flight at first place and even if someone does that keep it powered off and after FAA banned it most of the worldwide airlines started prohibiting the use of Note 7 in flights. This was not enough another incident was reported after all this fiasco that a 6 Year old boy got his hand burned while watching video and he was taken to hospital with injured body.

Samsung has clearly stated on the Note 7 Recall page that users should not use their Note 7 and they should power it off and get it replaced.

Therefore after all this BatteryGate thing happening with the Note 7 it was reported that Samsung Korea had their sales dropped massively giving an estimated damage worth $19 Billion dollars.

Samsung has started refreshing Note 7 stock with new batteries installed and they are strictly asking users to get there Note 7 replaced or else they will block the units which have not been replaced and they have mentioned the deadline to be 30^th September after 30^th September Samsung will disable those units and they will become unusable.

I would also like to suggest you guys who have bought Note 7 to get their Note 7 replaced as soon as possible so that they could get saved from bearing a huge loss and damage.