Samsung Electronics is permanently stopping production of its Galaxy Note 7 smartphones, dealing a huge blow to the South Korean electronics giant and potentially shaking up the competitive smartphone market.
Samsung released a statement Tuesday confirming it will no longer make the device after several reports that original and replacement models of the smartphone caught fire or exploded.
“For the benefit of consumers’ safety, we stopped sales and exchanges of the Galaxy Note 7 and have consequently decided to stop production,” Samsung’s statement said.
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