Retail News CRM

Tag: 7

  • 7-Eleven sold as business declines

    7-Eleven sold as business declines

    Retail operator PT Modern Sevel Indonesia (MSI) plans to sell its 7-Eleven convenience stores for Rp 1 trillion (US$75.24 million) to PT Charoen Pokphand Restu Indonesia (CPRI), a business entity of PT Charoen Pokphand Indonesia (CPI).

    According to information from the Indonesian Stocks Exchange (IDX) published on April 21, the transaction agreement was made on April 19.

    Under the deal, CPRI agrees to take over the business activities of MSI – mini-restaurants (resto) and convenience stores – as well as assets that use the franchise system.

    The transaction, which is scheduled for June 30, is worth Rp 1 trillion, pending approval from various parties including the Trade Ministry and Financial Service Authority (OJK), shareholders, board of commissioners and 7-Eleven Inc., the owner of the brand, CPI president director Tjiu Thomas Effendy wrote in his letter to IDX’s registration director.

    “MSI and CPRI have settled various issues related to the planned transaction,” said Tjiu.

    The 7-Eleven chain of convenience stores and mini restaurants are popular among young people as most of the outlets remain open for 24 hours. However, sales have been on the decline as most customer come to enjoy the store’s free Internet and chat with their friends.

    Other local retailers like Alfa Mart and Indomart have also opened mini resto in their outlets in recent months.

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  • Samsung Vietnam reports massive loss following Galaxy Note 7 scandal

    Samsung Vietnam reports massive loss following Galaxy Note 7 scandal

    Samsung was forced to recall 2.5 million units globally. Samsung Electronics Vietnam (SEV), which produces the notorious Galaxy Note 7 in northern Vietnam, has reported a loss in the third quarter, coinciding with the withdrawal of the latest model of its smart phone.

    SEV, based in the northern province of Bac Ninh, incurred a loss of $122.6 million in the third quarter, down sharply from a net profit of $490 million a year ago, according to a recent statement from parent company Samsung Electronics.

    Samsung’s profits were hit following battery explosions on the Galaxy Note 7, causing the firm to suspend global sales and withdraw the smart phone from the market.

    A representative from SEV said the affects of the scandal were inevitable but declined to give further comment.

    In October, Samsung Vietnam said it had no plan to lay off employees in 2016 as a result of the parent company’s crisis and predicted the value of its exports would grow further from last year’s $32.7 billion.

    From January-September, SEV made a net profit of $1.04 billion, down 18.7 percent on-year.

    The South Korean giant also runs Samsung Electronics Vietnam Thai Nguyen in the northern province of Thai Nguyen and a number of other subsidiaries, which reported significant growth in the Southeast Asian nation in the third quarter.

    Phone exports are significant to Vietnam’s exports, with the value of 2015 shipments up by 27.8 percent at $30.17 billion, or 19 percent of the country’s total exports, customs data show.

    Just weeks after the roll-out of the Galaxy Note 7 “phablet” in September, Samsung was forced to recall 2.5 million units globally following complaints its battery was exploding while charging.

    With images of charred phones flooding social media, the unprecedented recall was a humiliation for a firm that prides itself as an icon of innovation and quality, and the timing of the crisis could not have been worse.

  • Samsung Galaxy Note 7 Still Available for Purchase in Hong Kong Despite Recall

    Samsung Galaxy Note 7 Still Available for Purchase in Hong Kong Despite Recall

    For example, a good place to look for a Note 7 is Hong Kong, as a store there is selling the recalled model at a special price, even though it’s pretty clear that using this phone is no longer recommended.

    Samsung: Stop using the Note 7!

    Samsung made it very clear in the official recall published October 13 that using a Note 7 is no longer safe, so it’s working with retailers to get all phones off the market and replace them with S7 Edge or offer full returns to customers.

    “Since the affected devices can overheat and pose a safety risk, we are asking consumers with a Galaxy Note7 to power it down and contact the carrier or retail outlet where they purchased their device,” Samsung explained.

    ‘So why would anyone still purchase a Note 7?’ you could ask. The answer is pretty simple: if they get a Note 7 at a special price (read heavily discounted), they can then return it to Samsung and receive a brand new S7 Edge, the price difference between the two, as well as $100 in bill credit.

    So it could all prove to be a pretty smart move for those looking to make some extra money, although we’re pretty sure that there’ll always be people saying that it is not worth the effort.

    In the meantime, keep in mind that using a Note 7 is not safe by any means, even though there are so many people out there who refuse to return it. The risk of overheating and the battery catching fire is pretty big, so it’s indeed a good idea to send it back to Samsung or the retailer and get an S7 Edge instead.

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  • New Zealand cellcos to blacklist Note7’s next week

    New Zealand cellcos to blacklist Note7’s next week

    New Zealand’s mobile operators have hammered a nail into the coffin of Samsung’s discontinued Galaxy Note7 smartphones, arranging to blacklist use of the device across all of their mobile networks.

    Industry body the New Zealand Telecommunications Forum (TCF) is working with Samsung to cut off access to Note7 owners from November 18.

    After this date, the devices will not be able to be used across any New Zealand mobile network, although Wi-Fi services will still be available.

    TCF CEO Geoff Thorn said the blacklisting represents an additional safety measure by the nation’s mobile operators.

    “Numerous attempts by all providers have been made to contact owners and ask them to bring the phones in for replacement or refund, this action should further aid the return of the remaining handsets,” he said.

    The blacklisting marks and attempt by operators to coerce the hold-outs to take advantage of the global recall of the device and be refunded or swap their handsets with a Galaxy S7 or S7 Edge.

    Samsung permanently ended production of Note7 smartphones last month after reports that even some devices that had been replaced in the September recallhad suffered from the same overheating battery problem that led to a handful of devices exploding. Airlines worldwide had already banned in-flight use of the devices.

  • Garuda Indonesia Bans Samsung Galaxy 7 Note From All Flights

    Garuda Indonesia Bans Samsung Galaxy 7 Note From All Flights

    Garuda Indonesia has issued a ban on the Samsung Galaxy Note 7 for all its flights starting from Monday due to safety issues.

    This move ensues the recent ban by US Department of Transportation on the device, including its recalled and replaced units, after reports of the smartphone catching fire.

    Garuda Indonesia VP corporate communications Benny S. Butarbutar said in a press release Monday that passengers in possession of a Samsung Galaxy Note 7 would not be permitted to board the aircraft. Bringing the device through carry on baggage, checked-in luggage, or cargo was also strictly prohibited.

    This is the second ban issued by the airline regarding Samsung Galaxy Note 7. In early September, it banned the use of the device during flights as well as warned passengers not to charge the battery or store the smartphone in checked baggage.

    Samsung has already been forced to recall more than 2.5 million devices due to faulty batteries. The company has instructed users to “power down and stop using the device”, and announced the permanent end of its production last week.

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  • Samsung permanently halts Note7 production

    Samsung permanently halts Note7 production

    Samsung has officially halted production of the Galaxy Note7, following multiple reports of batteries overheating and catching fire even in devices replaced during last month’s recall.

    The company confirmed it has permanently discontinued production of its flagship smartphone, leaving the company without a high-end device to compete against the iPhone 7 with during the holiday shopping season.

    During last month’s major product recall, Samsung had blamed a single battery supplier for the overheating problem that caused the fires, and had switched suppliers for production of the replacement models. But with multiple reports that even replaced devices are catching fire, this explanation is in doubt.

    Samsung is offering Note7 buyers either full refunds, or the option to replace their device with an S7 or S7 Edge and receive a refund for the difference in price.

    Analysts are predicting that permanently ending Note7 sales could cost Samsung up to $17 billion in lost sales, and the potential for reputational damage is arguably even greater.

    Curiously, analysis from mobile application technology company Apteligent suggests that the reports of exploding batteries have done little to deter usage of Note7 devices. As of Sunday, the smartphone reached its highest usage rate since in August launch – 10% higher than the date of the recall. The first reports of replacement devices exploding began circulating days earlier.

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