Samsung Galaxy Ads
Don’t let the ads deceive you, making your calls from the bottom of a swimming pool will indeed fry your new Samsung Galaxy phone. Australian watchdogs are enraged with the company’s attempt to claim otherwise, this being the latest sham to irk Samsung investors who’ve had very little to celebrate in 2019.
After a few water breakages, Ozzy regulators went up in arms as Samsung refused to honor warranties. It’s a ‘but you said…!’ kind of argument. Samsung has proudly boasted in recent years that 15 of its devices are water resistant, ads showing cheerful underwater models texting in various aquatic settings. The Australian Competition and Consumer Commission is calling fibs. If those phones were kaput during those commercials, so could be their reputation down under.
It would be up to a court to hand down a punishment, which depending on the depth of Samsung’s wrongdoing, could be anything from a slap on the wrist to $7 million in fines on up to 300 campaigns. Strewth!
Investors who get their South Korean exposure from Samsung haven’t had a 2019 to shout about so far. The main competitor for the firm in the smartphone business remains Apple, an impossible brand to knock off its pedestal. Selling semi-conductors and chips has instead become a growth spring for Samsung, but trade tensions and a sector-wide supply glut have ripped at chip prices recently, leaving investors down in more ways than one.
As 5G ramps up across Australia and the world, market-watchers want Samsung to nip this controversy in the bud. The company heads into preliminary earnings results today, warning of a 56% profit fall from this time last year! We’ll keep an eye on how this one plays out!
