Recalling every potentially faulty Galaxy Note 7 unit around the world certainly took guts, as Samsung yielded to a “heartbreaking” direct financial loss of at least $1 billion, not to mention indirect hits to the company’s market value, brand recognition and, possibly, even its long-term product roadmap.
But apparently, the Korean tech giant remains confident it “can start to make up any ground that we have lost and get that momentum back into our business… as we exit 2016 and set ourselves up for a strong 2017.”
It’s unclear if the Galaxy S8 might be slated for an extremely early next year release to help with the aforementioned goal, though in the meantime, Samsung still intends to “give Note7 all the support we were going to give it in the first place.”
“There is no backing away from it”, according to European chief marketing officer David Lowes, who also stressed “we fully expect (new Note7s) to be available everywhere by the end of November.”
That doesn’t feel like a particularly ambitious deadline, seeing as how the exchange program appears to be accelerating quite nicely stateside, getting from the 25 to the 50 percent mark in just two days. Yes, Samsung Electronics America is proud to announce that “about half of all recalled Galaxy Note 7 phones sold in the US”, i.e. half a million, have already been swapped or refunded.
The vast majority of these, namely 90 percent, were exchanged with safe-to-use Note 7 copies, which is undoubtedly music to the ears of Samsung’s head honchos.