Samsung Electronics' Galaxy Note is displayed at a store in Seoul (Photo : Reuters)
While Samsung is still reeling from its defeat to Apple in court, the company's Galaxy Note 2 Phablet sets out to provide a quick turnaround for the handset giant.
Samsung lost $1.05 billion in damages to Apple in court last week for patent infringement, and $12 billion in market value from a 7.5 percent shares drop on Monday. However, with the impending introduction of the Note 2 on Wednesday (1 p.m. EDT), Samsung added $1.23 million to their market value from a 2.9 percent shares increase in Seoul.
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The Galaxy Note, which is not on the chopping block to be banned from the US, provides an opportunity for Samsung to recapture the faith of investors.The device is expected to release in October.
Lee Sun-tae, an analyst at NH Investment & Securities speculates that "there won't be huge innovative changes in design, but the Note 2 will feature quite a few improvements and enable Samsung to carry on its strong sales momentum in the category."
"With the launch, Samsung will also be trying to turn around downbeat sentiment after the U.S. legal defeat," he adds.
New additions to the note include improved stylus function, a quad-core processor, a Jellybean OS, and a 5.5-inch screen.
According to Reuters, ABI Research predicted a total of 208 million phablet shipments by 2015. The market for smart phone and tablet medleys is growing.
Samsung's Galaxy S III, also absent from the potential ban list, has been a boon to the company's worldwide market shares, selling more than 10 million units within 9 months. Samsung may have been knocked down, but if speculation is correct, the company is getting right back up again, ready to hit back harder than ever.