After hundreds of Galaxy Note 7 smartphones spontaneously catching fire, Samsung issued a statement Monday asking its customers to immediately power down their Galaxy Note 7 smartphones for good.
Even after attempting to replace batteries, the smartphones remain defective. Now, Samsung said it will “ask all carrier and retail partners globally to stop sales and exchanges of the Galaxy Note 7”. Samsung has officially halted production of the flammable devices.
American safety regulators have urged any Galaxy Note 7 users to “immediately stop using and power down” their devices.
Elliot F. Kaye, chairman of the Consumer Product Safety Commission, said Monday that Samsung made the “right move,” adding, “No one should have to be concerned their phone will endanger them, their family or their property.”
The Blaze reports:
The decision comes on the heels of two incidents in which Samsung devices caught fire. The company offered customers replacement phones, but even those are catching fire.
One Kentucky user recently reported that his replacement phone — even though it was not plugged in — suddenly burst into flames in a moment that left him “scared to death.” And Wednesday, in a similar situation, one user’s Galaxy Note 7 started smoking while he was on an airplane. The problem occurred before take off, so the Southwest Airlines flight was cancelled.
The Galaxy Note 7 originally received high praise from reviewers, however its support quickly diminished after the safety concerns became widespread. Giving up on the Note 7 will be costly for Samsung. Analysts at Nomura estimate the total hit could reach $9.5 billion in lost sales and wipe out $5.1 billion of profit.
However Samsung, which has a market value of about $194 billion and annual sales of $179 billion, should be big and profitable enough to weather the loss of their flagship model.
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(H/T: The Blaze)