Samsung halts Note 7 production
Samsung Electronics Co Ltd suspended production of its Galaxy Note 7 smartphones, a source said on Monday, after reports of fires in replacement devices, Reuters news reads. 2016-10-10 12:59:40
Fires in phones that were meant to replace devices that had been recalled because of their propensity to explode would be a disaster for the world′s largest smartphone maker, suggesting it has failed to fix a problem that has already hurt its brand and threatens to derail a recovery in its mobile business.
"If the Note 7 is allowed to continue it could lead to the single greatest act of brand self-destruction in the history of modern technology," said Eric Schiffer, brand strategy expert and chairman of Reputation Management Consultants, quoted by Reuters.
On September 2, Samsung announced a global recall of 2.5 million Note 7s due to faulty batteries which caused some of the phones to catch fire.
It ordered new batteries from another supplier and started shipping replacements to customers just two weeks later. But similar problems arose with a replacement Note 7 on October 5, which began smoking inside a Southwest Airline flight in the United States.
Samsung shares, which have rebounded after an initial sell-off on the recall, closed down 1.5 percent, compared with a 0.2 percent rise for the broader market.
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