Exxploding Batteries: Samsung Stops the production of the Note 7, counts losses in Billions of Dollars

After months of complaints and recalls, Samsung has permanently decided to put to an end the production and sales of the Galaxy S7, owning to safety concerns.

According to reports by the WSJ, a spokeswoman for Samsung confirmed to techcrunch that Samsung is ending the production of the device, though the company didn't provide further information regarding its decision, it stated "customer safety" in a filing it made about ending the S7 production.

In early September 2016, Samsung made an initial recall of over 2.2 million note S7s in which the company said that it was adjusting the note 7 to ensure quality and safety matters. Reports had been flying all over with people complaining of their Samsung Galaxy exploding. Cases like "the Samsung exploded and burnt a vehicle", some said their "S7 exploded while charging while" and the series of complaints keep flooding in. At some point, some Airline and Rail operators had to ban the use of the Samsung Galaxy while on board.

Yesterday Samsung had asked carriers to return back their S7 for a full refund or a refund for a different Samsung smartphone along with a $25 gift. Samsung has embarked on this path to end the S7 production when reports were still coming in that the replaced S7 were still exploding. Recalling the S7 again this time would not come cheap. Reuters cites that an estimated $17billion would cost the company if they are to make another recall.

The damage to the Samsung brand took another turn as the company's stock took a hit losing $19billion, falling by 8 per cent which is the biggest percentage of decline it had witnessed since October 2008