South Korean manufacturer Samsung suspended sales of its Galaxy Note 7 smartphones. The decision was made two weeks after the flagship phone was unveiled. Some buyers reported their phones caught fire or exploded while charging. The investigation found out that incidents occurred due to a faulty battery cell. Samsung confirmed 35 such cases in South Korea and overseas. The spokesperson for Samsung said more than 1 million Note 7s had been sold since the model’s launch on August 19. US retailers sell the Galaxy Note 7 for at least $850. Smartphone blasts frequently cause severe injuries. For example, Gareth Clear from the UK had to undergo skin graft surgery after an iPhone 6 had exploded in his pocket. Mr Clear said Apple promised him they would investigate the incident.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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