The entire Galaxy Note 7 fiasco hasn't just cost Samsung billions of dollars, it has also upset the company's other initiatives because it's all hands on deck right now to deal with this crisis at Samsung. A report out of Korea today claims that Samsung Electronics will be forced to slow down its work on future projects related to security, fintech, finance, iris recognition, cloud and even electric cars. It has already been reported that because the Galaxy Note 7 is taking up most of its time, Samsung has decided to put talks with Fiat Chrysler for its automotive parts unit on the back burner.
The discontinuation of the flagship is also going to have a negative impact on Samsung's plan to expand its wearable device business and create new services for technology introduced with the Galaxy Note 7. There's also the fact that Samsung is yet to release the Gear S3 smartwatch. With the media spotlight focused entirely on the Galaxy Note 7 the smartwatch may not get the welcome Samsung would have been hoping for. Development on features like Samsung Cloud and iris recognition will be hit as well because the Galaxy Note 7 was the first Samsung smartphone to feature them. Samsung was also going to work with banking and financial institutions to use the iris scanner to enable safer banking on mobile devices, that has been put on hold as well because Samsung no longer has a smartphone out on the market with an iris scanner.
Samsung's advancements in all of these areas will only become evident next year when it comes out with the Galaxy S8. All the more reason in the world for Samsung to go all out with the Galaxy S8 just to demonstrate that it's capable of bouncing back in spectacular fashion.
