Samsung Galaxy Note 7: Exchange Urgently

[yoda]

Samsung Galaxy Note 7 was said to be the Samsung’s best phone to date, the S7 Edge stretches it to a 5.7-inch curved display and adds an S Pen stylus. It has the same top-of-the-line camera and specs, buts its meant for big hands with equally big wallets.

But in a recent report, shares of tech giant Samsung Electronics Co Ltd fell to their lowest level in nearly two months on Monday, hurt by worries the fallout from a recall of its Galaxy Note 7 smartphone may deal a bigger blow than anticipated.

Investors have wiped off 13 trillion won ($11.7 billion) from Samsung's market capitalization as of early Monday, with the firm's common shares down 5.3 percent as of 0058 GMT (8.58 p.m. ET), underperforming a 1.4 percent fall for the broader market and touching their lowest level since July 15.

This was after the Samsung has urged owners of its Galaxy Note 7 phones to stop using or to exchange their device as they risk in exploding.

Samsung recently recalled almost 2.5 million phones after the worldwide reports that the device was exploding. Owners waned not to charge or to switch on the phones while they were on their flights for the safety of everybody on board.

Some of the countries already banned the Samsung phones during the flights.
The world’s biggest mobile phone maker recently apologizes to their customers by saying, said: "our customers' safety is an absolute priority".

The South Korean firm announced to all the Samsung Galaxy Note 7 owners to return their phones permanently exchange it due to faulty batteries causing Note 7 phones to catch fire, to turn off their phones.

"Uncertainties are being amplified," HMC Investment analyst Greg Roh said. "It might cost the company more than first expected to deal with the current problems."

The U.S. consumer agency warned consumers to stop using the phone in response to reports its batteries combusted while charging or in normal use.