Samsung Electronics plans Galaxy Note 8 launch event for August

Tech giant Samsung Electronics plans to hold a launch event in New York City for its next Galaxy Note smartphone in the second half of August.

The person, who was not authorized to speak publicly on the matter and so declined to be identified, said the Galaxy Note 8 will sport a curved screen that is marginally larger than the 6.2-inch version of the Galaxy S8 smartphone and feature two rear cameras. The Note 7 was equipped with a 5.7-inch curved screen and one rear camera.

Samsung is intent on continuing the premium Note series despite the costly collapse of the Galaxy Note 7, which it was forced to scrap roughly two months from launch in October due to fire-prone batteries. The incident, one of the biggest product safety failures in tech history, cost the firm $5.4 billion and hurt its credibility.

The firm disclosed its preliminary findings in January that different battery problems from two suppliers caused the fires, which was corroborated by two other independent probes. The firm implemented several steps including a new set of battery safety checks to avoid repeat incidents, which analysts said is helping it win back consumer trust.

Strong initial response for the Galaxy S8 smartphones that began selling in April indicate the firm is recovering quickly. There have been no battery fire incidents reported for the S8.

Source: Investing.com

Jr Trader Zornitsa Karadzhova