The mobile phone market is extremely competitive and in order to retain customers, companies need to provide them with the best products and also a good level of security and customer service. Samsung is attempting to recoup its losses from the Note 7 from 2016 after it was recalled and ceased manufacturing with its latest release the Samsung Galaxy S8. The fear for Samsung is that it will not only be facing competition from the market but also from its customers whose trust has been put to the test in recent times. Key features of the S8 whilst new for Samsung phones are not new in the overarching mobile phone market and could cause backlash from competitors who originally came up with these concepts.
In recent years, the reliance on mobile phones has reached an all-time high and with that in mind, Samsung is required to give its customers everything they could possibly need without the fear of the phone overheating or exploding with excessive use. Without a doubt, Samsung phones are a key competitor in the mobile phone market however customer loyalty is a fragile aspect of this market and even with a strong presence, the fact remains if a phone company has a bad reputation, they may not be a strong presence for much longer. The suppliers and Samsung have had their names dragged through the mud, and since the second recall, the manufacturing of the Note 7 was ceased. The Note whilst not the biggest seller from Samsung remains an important device for the company. Despite the double recalling of the Note 7, Samsung has stated that it is still interested in producing the Note 8. The financial outcome of the recalled phone is in excess of $5bn without the issues of reputation.