12 October,2016 08:27 AM IST | | Agencies
Samsung on Tuesday suspended all production of its Galaxy Note 7 smartphone, halted sales worldwide and told customers to stop using the device, following reports that replacements for combustible models were also catching fire
A woman cycles past a billboard advertising Samsung's Galaxy S7 Edge smartphone on Tuesday in Berlin. Pic/AFP
Seoul: Samsung on Tuesday suspended all production of its Galaxy Note 7 smartphone, halted sales worldwide and told customers to stop using the device, following reports that replacements for combustible models were also catching fire.
The South Korean company's latest efforts to contain a snowballing recall crisis that threatens to derail the powerhouse global brand came as the federal US consumer regulator issued an alarming warning of the possible dangers Note 7 posed to its owners.
Shares plunge
The news slammed Samsung's share price, which closed down 8 per cent at 1.54 million won, following a 1.5 per cent drop. The announcement came after Samsung recalled 2.5 million devices following complaints on its lithium-ion battery.
The unprecedented move has turned into a PR disaster for the company that prides itself on innovation and quality.
