Samsung to Permanently Discontinue Galaxy Note 7 Smartphone

FeaturesDow Jones Newswires

SEOUL�Samsung Electronics Co. said Tuesday that it would permanently discontinue production and sales of its embattled Galaxy Note 7 smartphone, pulling the plug on a much-hyped premium smartphone whose botched product recall has deeply damaged the brand.

Samsung said in a filing with South Korean regulators on Tuesday that it would permanently cease sales of the device, a day after it announced a temporary halt to production of the smartphones.

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"Taking our customer's safety as our highest priority, we have decided to halt sales and production of the Galaxy Note 7," the company said.

The move comes on a day when Samsung shares tumbled 8%, its biggest one-day decline in eight years, amid increasing pressure after a new string of reported smartphone fires in the U.S.

Samsung's global recall of 2.5 million Note 7s began more than a month ago after batteries in some phones overheated and caught fire.

Write to Jonathan Cheng at jonathan.cheng@wsj.com