Samsung today announced its decision to permanently end production of the Galaxy Note 7.
The move comes after several of the supposedly safe replacement devices have caught fire, making it obvious that the faulty battery might not be fixable after all.
Just yesterday, the South Korean tech firm had said it was investigating the incident with the help of the U.S. Consumer Product Safety Commission, adding that the Galaxy Note 7 production schedule was being “temporarily” adjusted to “take further steps to ensure quality and safety matters.”
The company today, however, has seemingly made the decision to stop pouring good money after bad into a device with a battery that may not be fixable.
“Taking our customer’s safety as our highest priority, we have decided to halt sales and production of the Galaxy Note 7,” said Samsung in a statement to the media. “Samsung will ask all carrier and retail partners globally to stop sales and exchanges of the Galaxy Note 7.”
It is not known exactly how much money Samsung has lost over the battery debacle, but a Reuters report indicated it could be as much as $17 billion. The company’s market value is suffering as well, with shares dipping eight percent on the Seoul stock exchange today.
Samsung, at the beginning of last month, halted sales of its latest flagship, the Galaxy Note 7, and launched a worldwide recall of the device after reports of batteries exploding while charging. The firm, at that time, launched a “thorough investigation” after receiving reports of phones catching fire and discovered the phones did indeed have a “battery cell issue.”
The replacement Galaxy Note 7s were supposed to be unaffected by the battery manufacturing error that was causing the fires but, reports began flowing in last week that the new handsets had similar battery issues. One such faulty device caused a plane to be evacuated when the device began smoking, just before take off.