Samsung urged all phone carriers and retail outlets to stop selling and exchanging its Galaxy Note 7 smartphone and advised current users to turn their phones off, even if they have already exchanged their phone for a replacement. Samsung said it is working with the Consumer Product Safety Commission in its investigation of fresh incidents of phone batteries overheating and catching on fire. “We remain committed to working diligently with the CPSC, carriers and our retail partners to take all necessary steps to resolve the situation. Consumers with an original Galaxy Note 7 or replacement Galaxy Note 7 should power down and take advantage of the remedies available, including a refund at their place of purchase,” Samsung said in a statement. On Sunday, Samsung reportedly halted production of the phone. In mid-September, Samsung issued a recall of the phone after dozens of reports of the phone’s battery overheating.
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From:: Stock Market News