Samsung Officially Scraps The Galaxy Note 7

#Samsung #GalaxyNote7Samsung Officially Scraps The Galaxy Note 7 : It’s a wrap for the Galaxy Note 7. In the space of one day, Samsung has gone from saying it was “temporarily adjusting” the phone’s production schedule, to permanently ending it.

The company has taken the unprecedented step of scrapping its latest, flagship line of phones after a spate of battery fires sparked a botched recall of 2.5 million units, deeply damaging the company’s reputation and the Galaxy brand name.

Samsung’s decision to kill off the Note 7 caps a dramatic few months for the company, which had briefly enjoyed rave reviews for the $880 phone before reports emerged that the batteries inside the devices were spontaneously overheating and catching fire. (Ironically, Samsung used to make its Galaxy phone batteries removable, but stopped the practice in 2015 with the Galaxy S6.)

Tuesday’s announcement sent Samsung’s shares down by 7.5% in Seoul, wiping out many of the gains the stock has made over the last month over a separate proposal by a U.S. hedge fund to restructure Samsung.

“Taking our customer’s safety as our highest priority, we have decided to halt sales and production of the Galaxy Note 7,” the company said in a filing with South Korean regulators.

Already more than a month ago, the U.S. Consumer Product Safety Commission urged all consumers who owned a Note 7 “to power them down and stop charging or using the device.”

Having launched the phone in August, Samsung soon afterwards issued a massive global recall of the phones. When replacement devices started catching fire too, America’s top carriers announced one-by-one last weekend that they were halting sales and exchanges of the device.

Though the number of defective units were in a small minority, the potential for danger was high: earlier this month Kentucky resident Michael Klering told a local television news station that he’d woken up at 4am to find his week-old Note 7, a replacement unit, had caught fire and filled his bedroom with smoke.

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