Samsung Galaxy Note 7 Production Comes To A Close

Samsung has finally stopped the production of the Galaxy Note 7 due to repeated issues of the phone overheating or exploding.This news has been going on for a while now and prompted Samsung to recall all Galaxy Note 7 phones on sale world wide.

Reports have it that Samsung had made a “final decision” to stop production.Giving no futher explanation as to why the decision was made.

Samsung also earlier asked all consumers who own the original Note 7 devices or replacement models to power them down and stop using them as it worked with regulators to solve the problem.

This has surely put a stain on the brand,as they could not resolve the issue thereby forced to end production.what would be the overall effect of ending the production of the Galaxy note 7?.

Reuters cites analysts estimating that a permanent end to Note 7 sales could cost the company up to $17 billion and coupled with the fact that the company has lost 8% of its stock price due to the action of investors wiping out the sum of $19 Billion off the company,this would be the companies largest fall since October 2008.