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Samsung Halts S7 Sale

Samsung has withdrawn all of its Galaxy Note 7 smartphones from sale globally after a spate of fires involving “safe” replacements.
●    Samsung said consumers with original Note 7 devices or replacements they obtained after the recall should turn off the power and seek a refund or exchange them for different phones.
●    South Korean authorities said they had found a new product defect in the Note 7 – Samsung’s most popular smartphone – and also asked consumers to power them down or to exchange them. 
●    The statement did not identify the defect.
●    The company’s shares dropped 7.5% on Tuesday, the biggest daily percentage decline since 2008, wiping more than $18bn off its value.
●    The US Consumer Product Safety Commission said it is continuing to investigate at least five incidents of fire or overheating reported since a formal recall was announced on 15 September.