Samsung shares plunge over smartphone explosion debacle

Samsung shares plunged on Monday after the South Korean electronics giant urged global users to stop using its Galaxy Note 7 smartphone due to a spate of exploding batteries.

Samsung Electronics – the world’s largest smartphone maker – announced on September 2 a recall of its oversized “phablet” after faulty batteries caused some handsets to burst into flames during charging.

Since then, airlines and air safety agencies around the world have warned passengers against using them on flights. The US Consumer Product Safety Commission on Friday urged Note 7 owners to stop using the device.

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