As Samsung recalls the Note 7, the first company to benefit from this decision is Apple, thanks to customers looking for smartphones with similar specifications, according to brokerage firm, Drexel Hamilton.
Analyst Brian White said in a note to investors that Apple could get as many as 8 million new buyers after the Note 7 fiasco, explaining that this marks “a big opportunity for Apple to gain market share.”
Recently, there have been multiple reports of fire caused by the Galaxy Note 7s in the US, Taiwan and Korea suggesting the high probability of a continuing battery safety issue with the phone.
The analyst said that the iPhone 7 is doing well even without Samsung’s help. The Chinese market, which has often been considered an unfriendly region for Apple, seems to be very successful for the new model. The iPhone 7 Plus version is experiencing better sales in China, but overall the iPhone 7 lineup is recording strong demand across the entire country.
“During our visit to over 30 smartphone stores and electronic retailers in Shenzhen this week, we could feel the momentum of Apple’s iPhone franchise and the struggles at some of its important competitors in China. The iPhone 7 Plus is clearly favored over the iPhone 7 in China, while the two new black colors were the most popular.”
“Moreover, today’s meetings with two leading China-based telecom carriers highlighted better demand for the iPhone 7/7 Plus launch compared to the iPhone 6s/6s Plus. In Hong Kong, one of our contacts indicated that the 256GB Jet Black iPhone 7 Plus was selling for HK22,000 (US$2,835) shortly after launch,” the analyst explained.
Apple has yet to reveal any details on iPhone 7 sales however demand is believed to be very high, especially because the models in Black and Jet Black were listed as out of stock shortly after launch. The iPhone 7 will be available in Malaysia starting this Friday.
Meanwhile, Samsung Malaysia have announced that Galaxy Note7 owners will soon be contacted starting today for the process of refund, so customers can return the Note7 to the company. Customers can also choose to replace their Note7 with a different Samsung Galaxy model that doesn’t catch fire or explode.
“For further inquiries, kindly contact Samsung Malaysia Careline at 1-800-88-7799. We apologise for any inconveniences caused,” Samsung said in a statement.
At press time, Samsung Malaysia has yet to comment on whether it will take responsibility for any damage caused by the Note7.[Source]– Barron’s