A Recap of Samsung’s Horrible, No-Good, Very Long Month
Listen, I get it. We all go through rough patches as individuals, companies, etc. They happen, and you come out the other side a wiser, all-the-better-for-it kind of person. So maybe that’s the one strand of light that Samsung needs to keep following as they go through what has to be one of the worst one-month stretches in the company’s recent history. And that’s saying a lot, because we’re really not that far removed from their exploding smartphones and washing machines.
To recap, here’s some of what the South Korean consumer tech firm has had to face over the past month or so:
Data Leak. Most recently, Samsung was found to have experienced a pretty massive data leak that included its SmartThings platform. A security researcher found that the electronics firm left dozens of internal coding projects on the web development platform GitLab open to the public. In accessing the data, the researcher was able to go through logs for nearly more than 135 Samsung projects and access source code for many of the things near and dear to Samsung. According to TechCrunch, the firm is looking into who—other than the researcher—might’ve accessed the information. But if it had fallen into the wrong hands, it’d be like Samsung willingly handing over the keys to their front door to a known thief and letting that thief know they were going to be on vacation for the next week or so.
Galaxy Fold Flop. Their highly-touted and overly-hyped foldable phone was delayed indefinitely after a large number of early review units were experiencing major screen issues. Tech press saw their Galaxy Fold devices malfunction, break, and more all within a matter of 48 hours. Samsung called the instances an isolated problem that had been fixed during the manufacturing process, but the company has since pushed back its planned end-of-April launch with no new to-market date in sight.
Galaxy Home Goes Missing. The anticipated rival to Apple’s HomePod, Amazon’s Echo line, and Google’s smart speakers was supposed to hit the market in April—at least according to Samsung co-CEO DJ Koh who confirmed that fact to CNET during the February Unpacked event. However, April—and now half of May—has come and gone and we’re still without word on where the Galaxy Home speaker is. A Samsung spokesperson did tell the publication that the want to launch the speaker during “the first half of 2019.”
8K Pricing. This might not be a big thing to many in the tech space, but seeing Samsung so willingly slash $30,000 off of their flagship 8K TV a few days after they were severely undercut by Sony’s own 98-inch 8K set was something of note. As we’ve detailed, the move raises more questions than anything, and is certain to put the company in a tricky spot as it tries to deal with customers who already purchased the set during the first few weeks of its availability.
A Q1 to Forget. During the first fiscal quarter of 2019, which Samsung reported on at the start of April, the firm saw operating profits of 6.2 trillion Korean won ($5.5 billion USD), which represented a 60 percent decline year-over-year. The company warned investors of the impending drop ahead of time—placing the blame on declines in memory chip products and slowing demand for OLED displays for the iPhone, among other things—but it doesn’t soften the fact that they experienced something of a historic decline.
Here’s hoping Samsung can get through this rough patch and start to turn things around. Quickly.
What We’re Reading
- Amazon is offering employees $10K and three-months pay to quit and start their own delivery business. (TechCrunch)
- The Supreme Court opens the door for iPhone users to sue Apple for having an App Store monopoly. (USA Today)
- Germany opens first stretch of “electric highway” that charges electric trucks as they drive. (Bloomberg)