Samsung has officially pulled the plug on the Galaxy Note 7. The handsets have been catching fire and even after a recall of 2.5 million phones it continued to have on-going problems.
It is one of the most disastrous smartphone launches in history which shed billions of dollars off its market value. Shares dropped 8 percent which was the biggest drop in eight years.
The official Samsung statement read: Taking our customer’s safety as our highest priority, we have decided to halt sales and production of the Galaxy Note 7.
Anyone using any Note 7 (including replacement units) are asked to power them down immediately and return it to wherever you made your purchase. The Note 7 can be exchanged for any other phone the carrier carries.