Samsung has confirmed that it is permanently stopping production of the Galaxy Note 7 smartphone after it was involved in dozens of fires and explosions worldwide. The company might have hoped this would be the end of the matter, but replacement devices began to exhibit the same problems. Five days later came a report of a replacement Note 7 starting to smoulder on a US flight. By the time Samsung announced a hiatus to production there were eight reported cases of supposedly safe replacement Note 7s catching fire. After confirmation of multiple faulty replacement devices came in over the weekend, however, the stock has dropped almost 10% in the past two days, to 1,554,000 won.

Source: The Guardian October 11, 2016 09:45 UTC