Samsung has now stopped production of the Note 7 and told customers to power down and return the device in a remarkable change of fortunes for the handset which was unveiled only two months ago.
Below is all the latest on the situation, starting from its initial release to the most recent move to halt all sales and stop production.
12/10/2016: Samsung has said it expects to see profits for its most recent quarter fall by $1bn after being forced to stop production and exchanges of the Note 7 owing to the risk of the devices overheating and catching fire.
11/10/2016: Samsung has now ceased all production of the Note 7 and urged customers to turn the device off and return it. The move effectively cans the phone for good.
The decision is not surprising given how disastrous the situation has become for the company and the risk of customers being injured by an exploding phone.
07/10/2016: Things appear to have gone from bad to worse for Samsung after one of its replacement devices that should have been safe caught fire on a plane just before take off.
The owner of the device said that smoke started pouring out of the phone, forcing him to drop it on the floor. The plane was then evacuated (see above).
Samsung said: "Until we are able to retrieve the device, we cannot confirm that this incident involves the new Note 7.
"We are working with the authorities and Southwest Airlines to recover the device and confirm the cause. Once we have examined the device we will have more information to share."
27/09/2016: Samsung has confirmed that 60 per cent of original Note 7 devices sold in the US and South Korea have since been returned, and it claims 90 per cent of returners have chosen to stick with the device.
“We are humbled by our customers’ loyalty to the Galaxy Note 7 device,” added DJ Koh, president of Mobile Communications Business, Samsung Electronics.
Despite the positive spin from Samsung, the fact that despite all the media coverage some 40 per cent of owners of Note 7 devices at risk to overheating still have them could be a cause of concern, although its battery-limiting software update may help reduce the risk to those owners of suffering an incident.
Data for UK returns was not released.
26/09/2016: Samsung is reportedly delaying putting the Note 7 back on sale in South Korea, which could have a knock-on effect for other markets.
The BBC reported that Samsung had planned to begin selling the device again on 28 September, but this has now slipped to 1 October.
It comes at the same time that some owners who received replacement devices for their original Note 7 have said that the device is still overheating, or not charging, even when plugged in.
The Wall Street Journal reported on the claims, which if true would be a huge blow to Samsung as it hopes to put the problem to rest. Samsung said that the latest problem is an "isolated" event and not related to the batteries in the new devices, suggesting that it may be a software problem that could be fixed with an update.
20/09/2016: Samsung has begun recalling Note 7 devices in the UK, urging anyone with an original model to return it as soon as possible to receive a new, safe device.
As part of this effort the firm has also confirmed it will issue a software update that limits the amount the amount batteries on affected devices can update to at 60 per cent.
This is designed to stop them overheating and potentially catching fire.
19/09/2016: Samsung's problems continue to mount after what appears to be the first lawsuit filed against the company as a result of the faulty batteries.
Reuters reported that a Florida resident said the device exploded in his front trouser pocket, causing severe burns. The filing of the lawsuit may well encourage others to do likewise, as almost 100 incidents of Note 7 devices overheating, exploding or catching fire have now been reported.
16/09/2016: US safety regulators have issued a formal recall of Galaxy Note 7 devices just days after Samsung started working with the Consumer Product Safety Commission (CPSC) to minimise the risk of fire and burn hazards.
The problem is believed to have affected one million handsets in the US alone, and 2.5 million globally.
Official guidance instructs users to check their International Mobile Equipment Identity number on the official Note 7 recall website. Affected devices will need to be returned to the point of purchase. Customers will receive a new Galaxy Note 7 (fitted with a new battery), a refund or a new replacement device.
14/09/2016: Samsung is to issue an update to Galaxy Note 7 devices that will limit the charging capacity to 60 per cent.
The move is designed to reduce the risk of the batteries overheating and catching fire. Associated Press said that an advert in a South Korean newspaper reported the plans for the battery-limiting update.
However, it is unclear whether this will be pushed out to global owners and whether the update will be forced on users or will require consent.
The move is intended to reduce the chances of any more devices catching fire, especially as many owners appear unwilling to return them, despite the risks.
12/09/2016: Samsung is to issue an official recall for the Galaxy Note 7 owing to the risk of handsets overheating and catching fire.
The firm has already asked customers to voluntarily return the phones, but is now, in the US at least, working with the CPSC to issue an official recall.
"CPSC and Samsung are working cooperatively to formally announce an official recall of the devices as soon as possible," the CPSC said in a note online.
"CPSC is working quickly to determine whether a replacement Galaxy Note 7 is an acceptable remedy for Samsung or their phone carriers to provide to consumers."
The company has already been forced to stop selling the device worldwide and has asked customers to return the handsets after fears that the batteries can catch fire and explode. Samsung admitted to 36 known incidents.
"In response to recently reported cases of the new Galaxy Note 7 we conducted a thorough investigation and found a battery cell issue," the company said at the time.
Samsung has also urged owners to stop using the device and in Australia the Note 7 has been banned from flights. The Federal Aviation Authority has also advised against taking the phones on flights.
05/09/2016: The cost of the recall and sales halt is likely to be as high as $1bn, a figure an executive described as "heartbreaking".
Shares in the firm fell after the recall announcement.
Below is all the other information we've gathered on the Note 7 since launch.
The Galaxy Note 7 was unveiled at the '7 Unpacked' event held on 2 August. The big reveal confirmed a lot of our initial predictions, and now official pricing information has been revealed.
Pre-order information reveals that the Note 7 will go on sale 2nd September, but customers who lock in their orders early will get it 3 days earlier.
Due to its popularity Samsung has sold out of all its stock which was available with a pre-order price of £739.99.
Never fear though, as it's available from all of the major networks and through Carphone Warehouse directly. On Vodafone prices start at £42.99 per month, with a handset cost of £59.99. The network will also throw in a free Gear VR too. If you want it SIM-free, it'll set you back £699.
EE is offering the Note 7 for £55.99 per month, which will bag you 5GB monthly data. There's also a £29.99 handset cost.
On O2 prices start from £9.99 on a £50 per month contract, complete with unlimited minutes, unlimited texts and 4GB data.
Three has kicked off pre-orders with its £35 per month deal. That comes with a £149.99 upfront cost, but a £50 gift voucher for Amazon UK. The network is promising delivery from 13 September.
The Note 7 ditches the traditional flat design and instead apes the curvy, dual-edged aesthetics of the Galaxy S7 Edge.
It shares a lot of its specifications with its other S7 siblings, namely an octa-core Exynos 8890 chipset, along with 4GB RAM, 12MP rear-facing camera with f/1.7 aperture, fingerprint scanner, and an IP68 rating. That 5.7in QHD Super AMOLED display is the same as last generation's Note 5, but Samsung has improved the S Pen this time around with a new design and finer tip.
The Note 7 also boasts clever iris-scanning technology that allows the user to unlock the device and authorise payments with their eyes.
It'll be available to pre-order from 16 August in Black Onyx, Silver Titanium, Gold Platinum (in some countries) and an all-new Coral Blue colour.
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