Just when the industry through innovation in the smartphone business had hit stagnation, Samsung wowed us with its first foldable device "Galaxy Fold," worth a whopping $2,000. A super premium phone that took almost a decade in the making and opens like a book when unfolded, shouted everything next generation. However, the expectations took a beating when reports of the Galaxy Fold issues surfaced.
The units given to international tech reviewers encountered display distortion and screen flickering issues, forcing the South Korean giant to postpone its launch in Hong Kong and Shanghai on April 23 and 24 respectively, and issue a call of review units and the big question lingers: Will the "Fold gate" make a dent in Samsung's image like the Galaxy Note 7 with exploding batteries did in 2016?
According to CyberMedia Research (CMR), the smart phone major has been mature and pragmatic enough by postponing its launch and sorting out all the issues before its general availability. "All said, for Samsung, there is no race for first past the post with its foldable smart phone It is more imperative for the company to focus on not delivering a flawed product, but rather ensuring highest consumer experience when the device goes on sales," Prabhu Ram, Head, Industry Intelligence Group (IIG), CMR.
L&T Technology Services shares fell nearly 3% intraday on June 25 as parent firm Reportedly Parent Larsen & Toubro is selling its stake in technology Services Company for the second time in June. On June 24, L&T Technology said its parent company in a notice said it would sell 2 lakh equity shares (representing 0.19 percent of total paid-up equity) of the company through an offer for sale route on June 25 and 26.
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