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46 million China-made Nokia batteries defective |
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Written by Stumo
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Wednesday, 15 August 2007 |
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The news keeps coming. Nokia now warned consumers that 46 million of its handsets contain defective batteries that coud overheat and even dislodge during recharging. They were made in China.
Nokia
has 38% of the world mobile phone market, and is the largest
manufacturer. This is not a recall, but an offer to replace the
batteries at no cost.
What is disappointing is what this suggests about the value
behind big brands, said Jim Murray, director of the European
Consumers Organization, a Brussels group that represents 40 national
consumer organizations. Nokia and Fisher-Price are brands whose
products we assume have high value. This shows companies must be even
more diligent in protecting the quality of their brands.
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In the news
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The following article was written by Peter Morici, a professor at the University of Maryland School of Business and former Chief Economist at the U.S. International Trade Commission.
The Treasury is injecting another $27 billion into AIG and raising the
taxpayers investment to $150 billon. Secretary Paulson appears more
intent on helping his pals on Wall Street than protecting taxpayer
interests.
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