Samsung has officially confirmed that the Galaxy Note 7 is dead. The South Korean company is ceasing production of its latest phablet and advising all owners — including those who have already received a replacement device — to power down their handset and return it.
Samsung isn’t using the word “recall” this time around, but that’s exactly what this is. After halting sales of the Note 7 on Monday and telling fans that it was “adjusting” its production schedule for the device, Samsung has now announced the Note 7 is no more.
“Samsung finally pulled the plug on a key product that was supposed to compete with Apple Inc.’s iPhones and other high-end smartphones during the U.S. holiday shopping season,” reports Bloomberg.
The move comes after Samsung recalled 2.5 million Note 7 units in early September due to a battery fault that caused some devices to overheat and explode. A large percentage of those were replaced with supposedly safe devices, and the Note 7 went on sale again in early October.
However, following reports that those replacement devices are also catching fire, Samsung has been forced to take drastic action. All carriers and retail partners worldwide have been asked to stop taking orders and to exchange any units that have already been sold.
Samsung shares fell 8 percent on Tuesday, wiping a whopping $17 billion off the company’s market value. Samsung will now be relying on the Galaxy S7 series to keep its smartphone business ticking over while it focuses on its next handset.
If you have a Note 7, it goes without saying that you should stop using it. Wipe your data, power it down, then return it to wherever you bought it from — either for a refund, or for another handset that won’t explode.
Rest in peace, Galaxy Note 7.