Things look rather bleak for Samsung at the moment. Within weeks of launching its flagship smartphone, the Galaxy Note 7, the company had to recall all of the more than 3 million devices it had sold, after reports of overheating and exploding batteries. Soon after, it halted production and scrapped the product entirely. All told, current estimates indicate the recall’s cost will exceed $6 billion (with one estimate even higher). But the greater concern is about the long-term hit on Samsung’s brand. After all, it is one of the most valuable global brands. Branding consultancy Interbrand estimated Samsung’s 2016 brand value at $51.8 billion.
Why Samsung’s Note 7 Crisis Won’t Hurt Its Brand Long Term
We’ve seen this movie before.
October 26, 2016
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Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Crisis Management. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Learn how to manage uncertainty, dispel rumors, and help your team recover.