Samsung has officially ended production of the Galaxy Note 7 smartphone following a turbulent release.
The news comes on the same day that Samsung stopped production of the smartphone and requested users to “power down and stop using the device.”
Now it appears as if Samsung is throwing in the towel and discontinuing the handset altogether. “Taking our customer’s safety as our highest priority, we have decided to halt sales and production of the Galaxy Note 7,” the firm said in a statement.
In September Samsung issued a worldwide recall of some 2.5 million Galaxy Note 7 smartphones. These were replaced by new Note 7 handsets that were reportedly safe.
Last weeks reports started circulating that once again, the Note 7 was catching fire.
To its credit Samsung has handled this entire debacle rather well. Recalls were announced once it became clear how widespread the problem was and this decision to discontinue the smartphone comes less than a day after Samsung announced it was investigating the matter.
How this incident will impact Samsung’s business moving forward remains to be seen but the immediate effect is that Samsung’s share price has fallen 8% in Korea.[Via – Bloomberg]