On August 31, Samsung was riding high having just launched its Gear S3 smartwatch at a flashy event. It had wind in it sales from its flagship Galaxy S7 smartphone and just three weeks earlier had unveiled the Note 7.
It was a big turnaround for the company that had struggled in recent years in the smartphone market because of rising competition from low-priced Chinese brands and Apple on the high-end.
Anticipation was high for its latest smartphone – the Note 7 – which was praised by the tech press. But days later, after several reports of the devices exploding, Samsung stopped sales of the Note7. The South Korean electronics giant played down the issue, saying that once the battery issue was fixed, users who had pre-ordered the phone would receive them.
But the new devices continued catching fire ending in Samsung killing the Note 7 and offering people the chance of a refund or exchange for the flagship Galaxy S7 or S7 Edge.