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Samsung officially puts an end to the Galaxy Note7, faces a massive $17 billion loss in revenue

By Team Feedbaac

Before things escalate to a much worse situation than it already is, Samsung has finally decided to permanently stop the production of the Galaxy Note7 smartphones worldwide. This comes a day after a report that they have temporarily stopped the sales and production of the replacement Note7’s worldwide.

“Taking our customer’s safety as our highest priority, we have decided to halt sales and production of the Galaxy Note 7"-Samsung

It appears that the according to Reuters, Samsung is expected to face a massive revenue loss of over 17 billion dollars, when the originally projected loss was only 5 billion. Samsung will also be facing up to 1.6 trillion-dollar cost for safely disposing of all the Note7’s.

RIP Note 7

The unfortunate fate of a great smartphone and perhaps the best-featured phablet any company have made till date, Samsung has a lot of work to do if they want to win the trust of their customers again. While the Galaxy Note 8 is only expected to release after a year (i.e. if they plan to), the Samsung Galaxy S8 is expected to be released in February 2017, at the Mobile World Congress 2017. We hope that Samsung does it right on their next flagship release. 

Android Authority