Samsung has confirmed that it is to permanently stop production of its Galaxy Note 7 smartphone.
In a brief statement, the Korean company said, “Taking our customer’s safety as our highest priority, we have decided to halt sales and production of the Galaxy Note 7.”
The decision to discontinue the Galaxy Note 7, just two months after it was launched to rave reviews, comes after the smartphone’s battery was found to overheat and explode.
While Samsung initiated a global recall at the start of September and had exchanged 60% of devices in Europe, the U.S. and Korea, reports emerged this week of replacement handsets suffering the same issues.
Users in the U.S. said that their new handsets blew up while charging, with a Southwest Airlines flight having to be evacuated after a Galaxy Note 7 began smouldering before take off.
Earlier on Tuesday Samsung advised owners of original and replacement Galaxy Note 7 models to turn them off and return them for a different device altogether or a full refund.
Samsung’s share price has slumped 8% in the past 24 hours, with the company braced for further turbulence. The wider effect is likely to see Samsung’s brand heavily damaged in the short term and medium term.