After two recalls forced by multiple reports of explosions and injuries, Samsung has officially ended production on its troubled Galaxy Note 7 device.
Originally released in mid-August, the Galaxy Note 7 received 2.5 million recalls worldwide in early September due to the device’s defective, dangerous battery. “Taking our customer’s safety as our highest priority, we have decided to halt sales and production of the Galaxy Note 7,” said Samsung in a statement. This announcement follow’s yesterday’s news that the company was recalling all Note 7 devices, including the replacement units that were supposedly safe.
Samsung is urging all consumers using any Note 7 model to immediately power down their device and return it to where it was originally purchased. Customers will be able to exchange their Note 7 for another handset from Samsung or other manufacturers.
Samsung’s shares have already dropped 8 percent today due to the announcement, representing the biggest one-day decline for the company in nearly a decade, and anylysts expect the recall could end up costing Samsung as much as $17 billion.