By now we've all heard about the new Samsung Note 7 exploding, or catching fire and causing sever bodily and property damage. The most recent incident happened over the weekend when a commercial airliner had to be evacuated because of smoke from a Samsung Note 7.

The company has released this statement:

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

The company has decided to halt any further production of the phone and has instructed all the carriers to allow Note 7 users to switch the troubled device with any other device from Samsung or any other manufacturer.