In a report by Bloomberg, the Note 7 recall that Samsung issued earlier this month will cost the company an estimated $1 billion, the recall will replace all of the 2.5 million Note 7 phones that were shipped since announcing the large smartphone last August.
Samsung issued the recall after the company confirmed that there is an issue on the batteries of Note 7, there have been 35 reported cases that the said smartphone exploded while charging.
Samsung and its partners are actually fast in recalling and replacing the said smartphone, though replacement units needs at least a week or two before they become available. In Saudi Arabia, those who bought Note 7 will received a full refund, while in the Philippines, for both Smart and Globe Telecom, Note 7 owners can either keep using the phone but at their own risk, they can also request a replacement to any device that they prefer or wait until the Note 7 replacement from Samsung arrives within the next week or so.
While those in the United States, they can follow the Product Exchange Program for Galaxy Note7, which Samsung announced a day after they announced the recall.
The $1 Billion cost of the recall may not be that much for Samsung but the problem is the timing of the recall, since Apple, their biggest competitor in the smartphone space, is expected to to announced what analysts call a much faster and better iphone 7.
Image from Imgur
Last modified: September 7, 2016