MORNING-04
production of the Galaxy Note 7 smartphone. Samsung launched a massive
recall last month over concerns the batteries can overheat and then catch
fire.>
There is breaking news from Samsung, too, today. It announced this morning that it`s permanently, permanently ending production of the Galaxy Note 7 smartphone. Samsung launched a massive recall last month over concerns the batteries can overheat and then catch fire. Josh Elliott of our streaming network, that`s CBSN is here with the breaking developments on that story. Josh, good morning.
JOSH ELLIOTT (CBSN): Gayle, good morning. If you or anybody watching has a Galaxy Note 7, Samsung is telling all of you to turn these off for good-- problems with the phone`s lithium-ion batteries overheating led to more than two dozen reports now of burn injuries from customers. Samsung recalled the phone but replacement phones have had the same problem. Yesterday, Samsung stopped sales and exchanges of the phone around the globe, while the U.S. Consumer Product Safety Commission investigates the problem. The company suggested that anyone with the original phone or the replacement seek a refund at their place of purchase. Meanwhile, the FAA updated their guidance on the phone as well urging passengers with the Galaxy Note 7 to power down and not use, charge, or stow in checked baggage while flying. China also taking action this morning. It recalled more than one hundred and ninety thousand phones that were sold in Mainland China. So invest-- investors not surprisingly were turned off by the news that the phones will have to stay off as Samsung`s stock yesterday dropped nearly eight percent. Norah.
NORAH O`DONNELL: All right. Josh, thank you.
There is a piece in the paper, too, today about how it`s going to affect the entire market because Apple and others may benefit from Samsung`s problems.
GAYLE KING: Aha.
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