For the last few months, Samsung Electronics (SSNLF) has been making headlines for all the wrong reasons.

Since its popular Galaxy Note 7 devices, as well as a few other personal electronic products manufactured by the South Korean company, started literally going up in flames, the situation has only worsened.

Now prosecutors have even called for the arrest of Lee Jae-yong, Samsung vice chairman and likely successor to oversee the $175 billion company. The charges against Lee stem not from the explosive capabilities of Samsung's products but from allegations that he has engaged in bribery and embezzlement in a scandal that involves South Korean President Park Geun-hye.

Over the years, Samsung has built an empire with a mammoth consumer base and a diverse array of businesses. The company makes everything from mobile phones to refrigerators, to network systems and OLED panels.

If leadership challenges continue to persist at Samsung, competitors will begin to make major in-roads into territories once controlled by the South Korean empire.

Apple (AAPL) - Get Report , in particular, stands to gain from any Samsung loss.

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The Cupertino, Calif.-based technology company is slated to release its next-generation iPhone, the iPhone 8, in 2017. If the rumors are true, it's going to challenge Samsung's upcoming Galaxy S8.

Not only will the new iPhone receive a massive upgrade (much needed after the lackluster response to the iPhone 7 and 7S), but the iPhone 8 will feature a larger format, all-glass construction, wireless charging and the ability to withstand even water.

Although Samsung is also expected to release its own next-generation cellphone in 2017, the buzz from both consumers and investors alike is unlikely to match the hubbub that surrounds every new Apple release.

In addition, Alphabet (GOOGL) - Get Report has been benefiting from Samsung's woes. The Google parent's new Pixel phone gained in popularity just as the Galaxy 7 fiasco was occurring and users started looking for an Android alternative.

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But Samsung's not just about phones -- and that's where additional profits can be made. The company's device solutions business, which manufactures memory and LCD products, is facing increasing pressure from competitors such as Micron Technology, Toshiba, and Western Digital's SanDisk.

These companies are all poised to overtake Samsung, and their stocks could skyrocket higher if Samsung's business starts to decline.

The old adage that "there is no such thing as bad publicity" is better applied to Hollywood than the stock market. With Samsung's leadership in a shaky position, investors are losing confidence in the company, and the stock is starting to lose the ground it had made up at the beginning of January.

Instead of investing in this debacle, take a look at the other strong players in the smartphone and memory space, where there are safer profits to be made.


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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.