miniBar Talk: This Week's Top Post - IndyBar Blog

IndyBar Blog

Posted on: Oct 21, 2016

Samsung's smartphone recall is big, but far from worst in history

According to the Insurance Journal, Samsung Electronics Co.’s recall of its fire-prone Galaxy Note 7 smartphone will be one of the biggest recalls ever in the technology industry. The South Korean conglomerate pulled the plug on the entire product line and slashed its third-quarter profit forecast by $2.3 billion.

On a 10-point scale measuring financial and reputational damage to a company, Samsung’s recall ranks between 4 and 7, said Srinivas Reddy, director of the Center for Marketing Excellence at Singapore Management University who has researched product and brand failures. That’s because the exploding phones — while still “a calamity” for the company — haven’t killed anyone, Reddy said.

Read the full article here.

To subscribe to more Insurance Coverage news like the article above, click here to update your news subscriptions.

Keep an eye out for our newest e-newsletter for members, Bar Talk, featuring the top IndyBar posts each month!


Indianapolis Bar Association (IndyBar) est. 1878 | 4,536 Members (as of 2.11.21)