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ALERT!!! The phone explodes- Samsung fully stops production of galaxy note 7

I’ve always wanted to own the new Samsung galaxy note 7. But currently the phone is a danger agent. Samsung has permanently stopped productions and sales of the galaxy note 7, after failing to correct a malfunction that makes the phone explode.

The loss of one of its flagship smartphones is a major embarrassment for Samsung, which was forced to recall 2.5 million Note 7s shortly after the device went on sale in August.

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The South Korean firm attempted to fix the problem by switching battery suppliers and updating the smartphone’s software. Company executives issued a slew of apologies, urging users to switch off the device.
But when replacement phones were issued, a number of customers reported that those devices also caught fire, including one aboard a passenger jet.Samsung on Monday advised all customers to stop using the phones, sending its shares tumbling by 8% in Seoul. The world’s biggest smartphone maker said Tuesday it was killing off the phone entirely.

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Samsung was panned for its response to the crisis — many customers were confused over whether their phone was safe, whether it should be returned and whether the electronics giant was offering a replacement.

Samsung told customers in South Korea on Tuesday that they will be able to exchange their Note 7 for another smartphone. The exchange program will begin on Thursday and run through the end of the year.

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It was not immediately clear what customers in other markets could expect in terms of a replacement or compensation.The Galaxy Note 7 was still on display — plugged in and powered on — in a Samsung store in London on Tuesday. Staff said they had been instructed not to sell the model.

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Giving up on the Note 7 will be costly. Analysts at Nomura estimate the total hit could reach $9.5 billion in lost sales and wipe out $5.1 billion of profit.

But Samsung, which has a market value of about $194 billion and yearly sales of $179 billion, should be big and profitable enough to weather the loss of one model.

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