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  • 10.11.16

Samsung announces total halt to production of Galaxy Note 7, which could cost company $17 billion

This morning, Samsung announced a total halt to production of its Galaxy Note 7 smartphone amid continuing safety concerns over the device’s batteries bursting into flames. The move could cost the world’s biggest smartphone maker $17 billion, say analysts. Consumers with either an original or a replacement Note 7 should power down and stop using the device, said the company. Previously, the company’s production stoppage was considered temporary.

“We recently readjusted the production volume for thorough investigation and quality control, but putting consumer safety as top priority, we have reached a final decision to halt production of Galaxy Note 7s,” Samsung executives said in a statement on Tuesday.

[Photo: Daniel Franks via The Verge]MB