Top 3 Biggest Business Scandals of 2017
It has been an extremely rocky year for business with many huge corporations struggling, companies such as Apple have been hit with scrutiny and others such as Samsung have been hit with huge claims, here we are going to look at 2017 biggest business scandals.
Apple Slowed Down iPhones.
Apple entered 2017 with a bang, going onto release 2 new phones and also a new selection of the ever popular Apple MacBook Pro. The company was making a mark in 2017. However when reports surfaced that Apple had been slowing down phones in order to make customers buy new ones the world erupted, with the tech giants now receiving lawsuits totaling millions of dollars.
Apple has apologized for slowing down the iPhones, calling it a “misunderstanding,” and offered to sell battery replacements for $29 instead of the usual $79. Apple has said that once the battery is replaced, the iPhone’s speed will pick up again.
Harvey Weinstein's Sexual Assault cases
More than 100 actresses came forward with accusations of sexual misconduct against the Hollywood kingpin dating back for decades. Harvey apologized, however, this did not stop him being axed from his company and shunned by the film industry, Weinstein also tried to pay off many actresses to stop them from coming forward and ruining his reputation.
Samsungs Bribery Scandal
As Samsung was about to name Lee Jae-Yong as the head of the Samsung empire accusations emerged that the next head of Samsung was caught up in bribery charges, the same charges which helped take down the former South-Korean president.
Lee Jae-Yong is now facing up to five years in jail for offering to take bribes and trying to hide assets overseas.
The news prompted Samsung to respond, a representative stated ;
“As we are confronted with unprecedented crisis inside out, I believe that time has now come for the company [to] start anew, with a new spirit and young leadership to better respond to challenges arising from the rapidly changing IT industry,” he said in a statement.
