banner

Samsung shares tumble in response to Galaxy Note7 warnings


Galaxy Note 7 explodes in 6-year old boy's hands

Due to the issues of exploding batteries that are plaguing Samsung “Galaxy Note 7,” Samsung Malaysia is asking their users to turn off their devices and as early as they can, trade them in for newer units that are under their replacement program.

“Samsung Malaysia” is now in the process of providing customers that have purchased the “Galaxy Note 7” phablet with replacements.

The fallout from the recall – which involves 2.5 million handsets sold so far in 10 countries – may slash the firm’s profit later this year by more than one trillion won, he warned.

In a statement provided to Mashable, the CPSC said it is working with Samsung to announce an official recall of the devices “as soon as possible”, and Samsung’s shares have since plummeted.

“The whole situation over Samsung is becoming more serious and complicated as more state authorities around the world are advising nationals to stop using the Note 7”, said Hwang Min-Sung, an analyst at Samsung Securities.

The “U.S. Federal Aviation Administration” even took it a step further by banning passengers from bringing their phones on planes. The FAA already warned airline passengers late Thursday not to turn on or charge the Galaxy Note 7 during flights and not to put the smartphone in their checked bags. Just days after a Florida man made headlines when his “beloved jeep” was reportedly destroyed by an exploding Note 7, a 6-year-old boy in Brooklyn was injured when the recently recalled phone caught fire while he was watching videos.

Samsung later confirmed that the devices were suffering from a “battery cell issue” after conducting an investigation of its own, and announced that it would voluntarily replace them, on September 2.