Samsung retains top spot in brand value even after the Galaxy Note 7 recall
Many analysts have predicted that the Galaxy Note 7 recall is going to cost Samsung north of $1 billion and that the company’s brand value is going to take an even bigger hit. Now that Samsung is getting back to the business of selling its new flagship it doesn’t appear to have suffered as big a damage as many had predicted earlier. The recall hasn’t dented its fortunes in its home market of South Korea where a local brand research company found that the Samsung Galaxy brand retained its top spot in the list of top 100 Korean brands even though it has been involved in a global recall for the better part of September.
Brand Stock found that the Samsung Galaxy brand scored 912.1 points on its Top Index. It leads local retail store E-Mart and mobile messaging service KakaoTalk in second and third place with 908.5 and 903.4 points respectively. The company said that Samsung’s prompt response to the Galaxy Note 7 battery debacle appears to have been positively received in the market. Samsung has taken concrete steps to ensure that its latest flagship no longer suffers from this issue and it has launched a comprehensive global recall program to replace each and every faulty Galaxy Note 7 shipped after the release in August.