Samsung is proof that you can be on top of the world one minute and at the bottom of a shoe the next. USA Today has the news.
“Samsung’s combustible Galaxy Note 7 problem just got worse. Shares of the electronics giant dropped 7% Monday in Korean trading — wiping out $14.3 billion in market value and extending a slide that have taken shares down 10% this month.”
Of course, this sudden drop of shares comes at a time when there are continued reports of exploding Samsung Galaxy Note 7 devices. Samsung has even sent out emails telling customers to turn off their Note 7s for an exchange. I received the email on Friday, even though I had returned the Note 7 earlier in the week.
“Your safety is our top priority,” Samsung said in the email before advising me to power down my Note 7 and exchange it now through their U.S. Product Exchange Program.
What’s funny (and there’s really not a lot to laugh at) is the fact that the recall has produced a bunch of “fake explosion” stories on Reddit. However, it’s pretty obvious that some aren’t fake.
One of the more recent disturbing reports of a Galaxy Note 7 explosion came out of St. Petersburg, Florida. According to the Express, Nathan Dornacher left his Galaxy Note 7 charging in his car. After he went inside to get the dog for a trip to Petco, he opened the door and saw his Jeep in flames. Dornacher claims there hasn’t been much of a response from Samsung’s end and plans to file a lawsuit.
Meanwhile, there are still a lot of people who refuse to turn in their Note 7 devices until new ones come in. A lot of those people are on my Facebook feed as well. “My Note 7 is working just fine,” one person told me.
“Sometimes, the Note 7 gets a little hot, ” but it is still working, said a relative, who also refuses to return his Note 7.
I tried to point out that if the Note 7 is getting a little too hot, it’s probably a sign of things to come. Still, I could not convince him, and I honestly hope I won’t be attending a funeral anytime soon. Then again, he isn’t the type to just leave something charging without watching it — at least I think so.
Samsung is said to be releasing new Note 7 devices as early as next week. Loyal fans of the Note 7, which I still believe is the best smartphone released, are patiently awaiting their replacement units.