Shares of Samsung Electro-Mechanics closed at 47,700 won (US$42.87) on the day, down 18.87 percent from the closing price of 58,800 won on August 24.
Advertisement
Samsung on Saturday has urged users of their Galaxy Note 7 to stop using their phones immediately and exchange them, following reports of the battery exploding.
The US Federal Aviation Administration (FAA) has joined individual airlines in advising passengers not only to refrain from using the device on-board, but even stowing it in the luggage.
Already, the South Korean handset maker has been hit by recalls of the Note 7 in 10 markets including the US. Three Australian airlines chose to ban the use of Galaxy Note 7’s during flights. Some 2.5 million of the premium devices have been sold worldwide, the company has said.
In the past two days, several Australian airlines and governmental aviation agencies in both India and the United States have announced that they are limiting if not outright banning the Samsung Galaxy Note 7 aboard aircraft. “In response to recently reported cases of the new Galaxy Note7, we conducted a thorough investigation and found a battery cell issue”, Samsung said in a statement earlier. So we reached out to the USA call center and a representative said Note 7 users should power off the phone and bring it back to the retail location where it was purchased.
For Note 7 holders who would prefer to wait for a new model, they will receive a Samsung J Series loaner phone until the new model is released.
“When these batteries overheat and burst, the results can be serious”, the commission said in a statement. It also said it was working with Samsung and hoped to have an official recall “as soon as possible”. The company will reportedly mark safe Galaxy Note 7 phones with a blue “S” and a small black square near the barcode. Companies ranging from Singapore Airlines and Qantas Airways to Air France KLM have instituted similar bans on the device.
Samsung has said that battery problems were behind the phones catching fire, but that it was hard to work out which phones were affected among those sold.
Advertisement
Samsung Galaxy Note 7 owners in Malaysia can replace their current device with a new one from Sept 29 onwards.
