Samsung has announced it is ending production of the Galaxy Note7 worldwide, deciding to do so after numerous devices exploded.
A report in The Verge quoted the company as saying: "Taking our customer’s safety as our highest priority, we have decided to halt sales and production of the Galaxy Note7."
Analysts say that the entire Note7 episode could cost the company as much as US$17 billion. Its shares fell 8% on Tuesday.
The decision to end production came after Samsung had issued a statement saying it was shutting down sales and exchanges of the ill-fated Note7.
In a statement to the Al-Jazeera network, Samsung said: "We recently readjusted the production volume for thorough investigation and quality control, but putting consumer safety as top priority, we have reached a final decision to halt production of Galaxy Note7s."
The premium smartphone was launched in August, with the company intending to use it to compete with Apple's iPhone 7. Though it was well received, it initially faced shortages as pre-orders were much more than supply.
But soon after launch, images of charred Note7s began to appear on social media sites, giving the first indication that all was not well with the device.