This time 12 months ago, Samsung had just released its Galaxy Note 7 onto the market following its launch a few weeks earlier.

It was already garnering excellent reviews and was being touted as one of the best smartphones ever made.

But within days the problems with its exploding battery were starting to emerge, leading eventually to a recall and effective scrapping of the device months later.

It seemed to be a catastrophe for the company, costing it $5.8 billion, its number one spot on the smartphone sales rankings and a huge dent in its reputation.

Fast forward a year and today the company revealed the Note 7’s successor, the imaginatively named Note 8.

It has a bigger 6.3 inch Quad HD+ Super AMOLED Infinity Display, an enhanced S Pen, a new dual lens rear camera, wireless charging and powerful hardware.

It appears to be, like its predecessor, a very good phone.

But it has to be. Any issues with the Note 8 could be disastrous for Samsung.

Battery problems seem unlikely given the huge amount of redesigning, quality control and testing that has gone into Samsung smartphone batteries since last year.

Indeed the Galaxy S8 launch was delayed as a result of Samsung’s efforts to ensure everything was perfect.

It also has to be good because of its cost. At around €1,000 the Note 8 looks set to be the most expensive smartphone ever at launch.

Samsung is clearly banking on the goodwill it had already built up around the Note brand prior to the Note 7 debacle, sticking with it rather than going for something new as part of a clean break from past troubles.

That’s a gutsy move and shows it is confident that Note buyers remain loyal to it despite the issues experienced over the last year.

The Note’s biggest test is only weeks away, however.

Apple is expected to announce one or more new iPhone’s, including a large screen device to compete with the Note 8, around the start or middle of September.

Samsung therefore has a short window in which to hoover up the oxygen of publicity generated by a launch before Apple will be looking for some of it.

The South Korean company also faces another ongoing challenge on the corporate front following the arrest of its vice-chairman on corruption charges.

But despite all the difficulties thrown at it over the past year, the electronics giant has shown itself to be strong and resilient, with a soaring share price, strong results and an innovation pipeline that shows little sign of drying up.

It seems Samsung may remarkably have managed to turn multiple crises into opportunity.

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