Samsung kills the Galaxy Note 7: 10 things you need to know
The smartphone giant faces an estimated loss of $17 billion.
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1) Korean telecom giant Samsung has announced that it is permanently suspending the production of its flagship device, the Galaxy Note 7 citing customer's safety as their highest priority.
2) According to estimates, the recall and subsequent suspension of production for the Galaxy Note 7 and lost sales will result in a loss of nearly $17 billion for Samsung.This incident may hurt demand for other Samsung Smartphone models as well. Photo: Reuters
3) Samsung Electronics shares closed at 1,545,000 won or $1,378 marking a drop of 8.9% from the previous day's close.
4) The Note 7, shortly after its launch in August 2016, started exhibiting problems like heating up, smoking and even catching fire.
5) The first report of a Note 7 explosion surfaced on August 24, 2016, in South Korea and since then there have been more than 100 reports of battery failures or fires.The phone's first recall was followed by several incidents of the phablet catching fire. Photo: Twitter
6) On September 2, 2016, Samsung announced the decision to recall all the 2.5 million Note 7s it had sold so far.
7) Samsung attempted a temporary solution to the problem by providing a software update that limited its battery's charging capacity to 60% in order to prevent over-heating.
8) On September 9, 2016, the Directorate General of Civil Aviation (DGCA) in India banned flyers from carrying Samsung Galaxy Note 7 in check-in bags and from switching them on or charging in flight.
9) Samsung's first recall was followed by several incidents of the phablet catching fire, include one onboard a US flight.
10) It is being predicted that the Galaxy Note 7 incident may hurt demand for other Samsung Smartphone models as well.