Defective New Technology and How it Affects the Market

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New Technology That Defective and How It Effects the Market
Introduction
Technological advancements have been influenced by capitalist ideologies, lifestyles, manufacturing, and social needs, among other significant factors. Consequently, technological firms have invested in research to develop new technologies that match the available demand. For instance, firms in capitalist states are driven by profit maximization; hence, the improvement of technologies to increase production, maximized profits and improves satisfaction among employees and clients. However, the increased technological demand has led to the production of defective appliances and devices that pose a threat to users. Consequently, interviews with individuals applying technology in different aspects will present substantial information on the impacts of technological defects in some appliances. The defectiveness in technological devices has had negative effects on customer behavior. Cases of device failure lead to negative feedback and loyalty, leading to the preference of similar devices from different manufacturers. Technological defectiveness could occur in different sectors; therefore, the need to interview individuals from diversified professionals.
Interviews
An interview with a stoke broker provided substantial information on the market impact of Samsung's recall on its Galaxy Note 7 smartphones. The broker told me that Samsung shares fell by almost 7% after the announcement. Notably, this fall in stocks reflects about $14 billion off Samsung's shares (Lee). The recall process cost Samsung billions in market research building strong sales of future smartphones with the presence of rivals such as Apple Inc. The withdrawal by investors from Samsung stocks was caused by airline advisories that recommended passengers not to travel with their Samsung Galaxy Note 7 smartphones. This interview proves how a technological problem could affect different industries. In this case, the Samsung Galaxy Note 7 smartphones recall affected the transport and healthcare sectors for fear of explosions. Ultimately, Samsung experienced a significant setback in its brands after the technological hindrance.
The phone shop attendee's interview also provided insight into the production of malfunctioning smartphones. He emphasized competition and the lack of regulatory policies in the smartphone industry. Additionally, the importation of substandard devices has also contributed to the sale of defective technological devices. The Samsung galaxy note 7 was an example of smartphones that were recalled due to faulty batteries. The attendee claimed that Samsung experienced a blow in its sales after the battery recall due to client anxiety. There was an existing competition between Apple and Samsung in the unveiling of a new phone with advanced specifications each year. The competition led to pressure on Samsung to launch a new phone without enough time for research on all components. Ultimately, Samsung experienced losses and a change in consumer behavior towards all Samsung products. The attendee claimed that consumer trends changed where clients preferred purchasing other android phones such as Huawei.
An interv...