Samsung Finally Pulls Galaxy Note 7 off the Shelves

BENGALURU: Less than two months after the launch of Galaxy Note 7, the Korean electronics company Samsung finally scrapped its flagship officially. The company has taken an extraordinary step of completely shutting down the manufacturing and recalling its latest flagship line of phones sold worldwide.

Following numerous reports of the phones catching fire, the company had recalled 2.5 million Note 7s in early September, deeply damaging the company’s reputation and the Galaxy brand name.  "We have decided to halt production and sales of the Galaxy Note 7 in order to consider our consumers' safety first and foremost," the South Korean firm said in a filing to the Seoul stock exchange.

The company had earlier informed all global carriers to discontinue sales of the Note 7 and the exchange of devices for a replacement. Even though Samsung has been studying about the issues, the company is not yet able to figure out the reason for the phones catching fire. This has also become one of the costliest product safety failures in tech history. For now, the company is offering to exchange Note 7s for other products or refund them.

Samsung's decision to discontinue sales of Galaxy Note 7 not only raises doubts about the firm's quality control but could result in huge financial and reputational costs as well. Market researchers also reports that a permanent end to Note 7 sales could cost Samsung up to $17 billion and blemish its other phone products.

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