Just yesterday Samsung suspended sales of the Galaxy Note 7 and urged consumers to return the devices through any outlet possible. The company is sending out explosion-proof return packages to those who purchased the device directly through their online store. So what’s Samsung’s recovery plan from the Galaxy Note 7 fiasco?
A new report from the Korea Herald says Samsung is stepping up the production of its Galaxy S7 and lower-end smartphone models to try and make up for the profit loss the company will incur thanks to the faulty Galaxy Note 7 release. An industry insider spoke anonymously with the paper about the company’s situation, even as some analysts expect the company to lose upwards of $17 billion dollars in lost revenue.
One of Samsung’s suppliers spoke with the paper and confirmed that it is putting more weight into the production lines for the Galaxy S7 and the Galaxy A8, while the company moves on to focus on the Galaxy S8, the flagship smartphone that will likely be unveiled at Mobile World Congress in February next year.
There have been some rumors that Samsung might push forward the Galaxy S8 launch date, but the source notes Samsung has not given any indication to its industry partners that it will move the launch date forward.