As Samsung goes back to the drawing boards with their Note 7, insiders are tipping that the Korean Company is close to abandoning the top end model all together in favour of a new upgraded version, now information on a new Galaxy S8 has emerged.
Samsung’s Galaxy S8 is expected to usher in major design changes over this year’s critically acclaimed Galaxy S7, including the abandonment of the headphone jack and home button.
According to sources the handset will be announced on Sunday, February 26, at 19:00 at the Mobile World Congress in Barcelona.
Samsung who has done Sunday night launches before is banking on the new device to resurrect their smartphone fortunes following the disastrous launch of the Note 7 which was recalled again yesterday.
Samsung usually launches its Galaxy S-series devices the day before Barcelona’s Mobile World Congress technology conference begins each year. In 2017, MWC is scheduled to run from February 27 to March 2, so the proposed Galaxy S8 launch would indeed fall on the Sunday prior to the event.
That said, it’s also been rumoured that Samsung is planning a much earlier Galaxy S8 launch this year, to mitigate some of the losses created from the company’s recent global Galaxy Note 7 recall.
Samsung hasn’t confirmed any official details about the phone.
Despite all the drama over the Note 7, Samsung shares have climbed approximately 15% in the past, tumultuous month. News yesterday, that Samsung was halting production of the Note 7, sent its shares down by just 1.5% on Monday in Seoul, a relatively minor dent in the stock.
Samsung’s shares are holding up largely because of something entirely outside the realm of burning hardware: a U.S. hedge fund has been pushing for a radical shake-up of the company’s structure, one that has the potential to unlock more value for shareholders down the line.
Elliott Management, run by New York billionaire Paul Singer, has been saying for some time that Samsung is undervalued because of its complex corporate structure.
Last Wednesday it sent Samsung an open letter, calling for it to split itself and list its operating company – a portion that would include much of Samsung Electronics – on the Nasdaq stock exchange in New York.
That operating company should then return 75% of its free cash flow to shareholders, along with a $27 billion (30 trillion South Korean won) special dividend.
