Samsung Stops Production of Galaxy Note7, Asks All Users to Stop Using Devices

Samsung announced Monday that it is asking all global carrier and retail partners to stop sales and exchanges of the Galaxy Note7 and subsequently announced it would be stopping production while it investigates recent reports of problems with replacement devices, according to a statement.

The company has also asked anyone with a Note7 or a replacement Note7 to power down and stop using the device and take advantage of the various remedies available. Samsung said it was working with relevant regulatory bodies to investigate the recently reported cases involving the phone.

"We remain committed to working diligently with appropriate regulatory authorities to take all necessary steps to resolve the situation," the statement said.

Samsung later sent the following statement to CNBC, confirming it was stopping production:

"For the benefit of consumers' safety, we have stopped sales and exchanges of the Galaxy Note 7 and have consequently decided to stop production."

On Sunday, various news organizations, including South Korean news agency Yonhap, reported that the company was temporarily halting production of the device. The news broke the same day AT&T announced it would no longer be replacing the recalled Note7s with replacement devices based on recent customer reports and ongoing investigations by Samsung. T-Mobile said it would be suspending all sales of the new devices as well as exchanges for the replacement Note7 devices.

The phones were originally recalled in September by Samsung when some of the devices caught on fire. At the time, the Consumer Product Safety Commission said the phones posed a serious burn hazard. Major carriers provided customers in the United States options to replace the phones if they had purchased them.

In response to recent reports of the replacement devices catching on fire, Samsung issued a statement saying they were moving quickly to investigate and that they take very report seriously.

Shares of the company fell 8 percent in Seoul on Tuesday, wiping off $17 billion of market value, Bloomberg reported.

Patch will update this breaking news story.

Image via Samsung/CPSC