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Samsung’s $7 billion dollar bang

The report goes on to add that the recall might be only limited to South Korea as over in the US, Samsung is planning on just replacing the batteries for the devices that are affected by the defect.

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According to Reuters, the company said it has chose to delay shipments of its high-end Galaxy Note 7 smartphone following reports of exploding batteries.

The company said it is investigating the reports of phones catching fire and exploding. South Korea’s Yonhap News said five or six explosions were reported by consumers.

Pictures of damaged phones could be found on Twitter over the last 24 hours.

There were no confirmed reports of any injuries.

Investors drove the stock to two-week lows after the global smartphone leader told Reuters late on Wednesday the shipments had been delayed for quality control testing, and that shipments to South Korea’s top three mobile carriers had been halted.

So far there’s no word of a recall, or if this problem affects devices sold in the U.S. There’s also no news on why the devices exploded, though the battery is said to be the likeliest culprit.

Samsung has been overwhelmed with the response for the phones with edge display so much so that it is reportedly considering coming out with only one version when the Samsung Galaxy S8 comes at the start of 2017.

While a number of exploding smartphones in the past have been blamed on faulty third-party chargers, Samsung allegedly discovered that there is a problem with the battery on a small percentage of Galaxy Note 7 units.

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This surprising news has put a $7 billion dent in the company’s market value. Even though the company has not yet made an official statement, industry watchers say some defective batteries may have caused the explosions.

Galaxy S7 edge