Samsung’s battery making affliliate Samsung SDI has been reportedly not doing well since the Galaxy Note 7 crisis. It is without a doubt that the explosions and fire incidents surrounding Samsung’s late phablet has opened up a huge wound for Samsung SDI, and as it turns out, the future won’t be pretty.
According to Reuters, Samsung SDI’s market value plunged 20% lower since the Galaxy Note 7 crisis. It has reported double the amount of losses in Q3 this year as compared to a year ago. An SDI representative has stated that many of the company’s clients have been contacting them regarding the safety of their batteries after the tragedy which hit the Galaxy Note 7. One of SDI’s biggest clients, Apple has also questioned the safety of the company’s batteries.
That isn’t the only problem that Samsung SDI has been facing. Reuters claims that the battery affliliate might find it harder to convince potential new customers due to its jeopardized reputation. Samsung SDI will definitely be facing an uphill battle over its plans to expand into electric vehicle batteries plus renewable storage systems. Another insider from SDI has labeled the Galaxy Note 7 crisis as “very embarrassing”, as SDI is still busy picking up pieces and getting back into pace from the crisis itself.
Meanwhile, Samsung Electronics has claimed that it has been focusing on looking at all possibilities in order to find the root of what really caused the Galaxy Note 7 crisis. What do you think?
Source: Reuters
