Mobile

Samsung having a great year despite Note 7 combustion & bribing scandal

Late 2016 saw Samsung facing major operating losses due to the global recall of the scandalous Note 7. The whole incident ‘sparked’ up when Note devices’ batteries started heating up excessively and exploding, causing a fire. The situation worsened to a point where airline authorities around the world imposed a formal restriction on bringing the Note 7 aboard planes.

If this wasn’t enough, the unofficial leader of Samsung’s Corporate Group, Lee Jae-Yong, was indicted in a mega presidential scandal in the start of 2017. There were allegations of Lee donating around $38 million to a charity run by one of ex-President Park Geun-hee’s subordinate.

Despite both these events, Samsung is smoothly sailing through 2017 in financial terms. Tech gurus and investment specialists around the world estimate Note 8 sales to touch 12 million units. South Korea alone ordered over 270,000 units in the opening weekend, whereas record-breaking pre-orders were made by Americans. Click here to check out the price of Galaxy Note 8 across Pakistan.

Samsung’s share has risen by roughly 65% relative to where it was last September. Samsung’s second-quarter financial report comprised of a massive 73% rise in revenue from last year. This increase can be accredited to the huge increase in sales of semiconductors, which jumped to a massive $7 trillion from $2.6 trillion in 2016.
In other news, Samsung is expected to earn around $110 from the sale of every iPhone X!

Nice going there, Samsung!

Sponsored
Shehryar Ahmed

He covers international technology and consumer products for TechJuice. Also the Partnerships Lead, directly handles all university and college affiliations.

Share
Published by
Shehryar Ahmed

Recent Posts

First AI-Powered Teacher Launched in Pakistan’s Private School

Karachi: A private school in Karachi has unveiled Pakistan’s first AI-powered teacher, a groundbreaking move…

29 mins ago

Yahoo Surprises Users with Its Latest Android Launcher

Third-party apps have long been a staple of the Android ecosystem, but their appeal has…

2 hours ago

Phase-II Review of PTCL-Telenor Deal Finalized by CCP

ISLAMABAD: The Competition Commission of Pakistan (CCP) has completed its Phase-II review of Pakistan Telecommunication…

2 hours ago

Xiaomi’s SU7 Achieves New Production Record, Driving Q3 Growth

Xiaomi has shattered records by producing 100,000 vehicles in just 230 days. This is nearly…

3 hours ago

Teachers Can Now Access OpenAI’s Free AI Course

OpenAI, in collaboration with nonprofit organization Common Sense Media, announced on Wednesday the launch of…

4 hours ago

WhatsApp-Inspired Updates Under Testing in Google Messages

Google is exploring a revamped image-sharing interface in its Messages app, taking cues from WhatsApp…

5 hours ago