Samsung Sheds $20BN Of Market Cap In 2 Days After Recalling Exploding Phones

Turns out spontaneous pocket explosions are not a desirable feature for smartphone consumers...just ask Samsung.  The company was forced to recall 2.5mm phones last week after reports surfaced of the device exploding during or after charging.  That doesn't look healthy.


Meanwhile Samsung shareholders have suffered the biggest 2-day price drop since Lehman, with the stock shedding nearly $20 billion in market cap.  The recall is expected to cost $1BN but the brand value destruction is obviously much higher with Apple simply having to make phones that don't spontaneously combust to win over consumers.

Samsung 2


Samsung 1


Meanwhile the FAA has warned airline passengers not to turn on or charge Galaxy Note 7 devices on board aircraft and not to stow them in any checked baggage.


But the video made it look really cool...