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CONSUMER CATCH-UP: Samsung sells a million Galaxy Fold phones, deadline for Equifax claims nears, and spending a major source of secrecy in relationships

BySimone Chavoor KGO logo
Friday, December 13, 2019
CONSUMER CATCH-UP: Samsung sells a million Galaxy Fold phones, deadline for Equifax claims nears, and spending a major source of secrecy in relationships
CONSUMER CATCH-UP: Samsung announced it has sold a million Galaxy Fold phones, the deadline for Equifax settlement claims nears, and spending is a major source of secrecy in relationships.

SAN FRANCISCO (KGO) -- Samsung announces it has sold a million Galaxy Fold smartphones

Samsung has revealed that it has sold more than 1 million of its Galaxy Fold smartphones.

Samsung Electronics President Young Sohn revealed the foldable smartphone's sales numbers at TechCrunch's Disrupt conference in Berlin earlier today. Estimates from back in October calculated sales of 500,000 units at that time.

The Samsung Galaxy Fold's launch was notable for two reasons: its $2,000 price tag, and the early reviews that panned the device for multiple problems with its innovative folding screen. Early tech reviewers found the screen would crack and go black, often due to poorly-labeled packaging that lead to reviewers removing protective film intended to be left in place. Samsung responded to these reports by delaying the phone's full release while it fixed the issues, re-launching it in late September.

The company plans to sell 6 million Galaxy Folds in the next year.

Deadline to file a claim in the Equifax data breach approaches

The FTC is reminding consumers that time is running out to file a claim in the settlement stemming from the 2017 Equifax data breach.

The data breach exposed the personal data of 147 million people. In compensation, Equifax has agreed to pay a minimum of $575 million and no more than $700 million, offering credit monitoring and financial compensation for losses traceable to the hack. The filing deadline is January 22, 2020; consumers can visit www.equifaxbreachsettlement.com for more information.

According to MarketWatch, 15 million of the 147 million people affected have filed claims to far, including 3.3 million claims for credit monitoring from Equifax and two other credit bureaus, 2.3 million claims for additional monitoring from Equifax, and over 4.5 million claims for money. While it initially appeared that those opting for a money payout would receive up to $125, the pot allotted to that settlement was just $31 million, meaning those 4.5 million people would not receive nearly that much. However, claimants who can prove out-of-pocket losses directly tied to the breach are expected to receive full compensation, according to the class action plaintiffs' lawyers.

Spending continues to be a major source of secrecy in relationships

Holiday spending may hurt your wallet, but according to a new study, it could also be hurting your relationship.

A new study conducted by researchers from Boston College found that shopping is one of the biggest sources of secrecy in relationships. The researchers looked at couples' bank statements, money-sharing app records, and data from field studies to determine what financial behaviors partners hide from each other. What the researchers call "financial infidelity" was higher when one partner opted against joint credit cards, made mostly cash purchases, or quickly disposed of receipts, along with other behaviors that could be seen as secretive.

According to the researchers, retailers could benefit from offering discreet packaging and cash payments for those seeking to commit financial infidelity. The researchers also recommend that couples openly discuss their budget to prevent financial infidelity.

Take a look at more stories and videos by Michael Finney and 7 On Your Side.

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