Report: Samsung lights the Galaxy Note7's funeral pyre

Just one day after Samsung temporarily halted production of the maligned Galaxy Note7 smartphone, reports from numerous outlets say the company will scrap the Note7 entirely. Some news outlets are reporting that the black cloud surrounding the Note7 has led Samsung to consider ending the whole Galaxy Note series.

For those who haven't been following this debacle, the Galaxy Note7 was launched in August as a co-flagship to the Galaxy S7. The phone was lauded for its features and performance, though some questioned its high price tag. Within weeks of release, reports of fires involving the phone began appearing. One of these incidents happened aboard a passenger aircraft. The Consumer Product Safety Commission fired up a recall of all Note7 phones in the US. The manufacturer's recall efforts eventually engulfed the entire globe, and Samsung replaced the first batch of phones with new units with updated batteries. Unfortunately, reports of more fires involving the refreshed phones began just days after these were delivered to customers, including another incident on an aircraft.

The reports of the permanent termination of the Galaxy Note7 follow one day after a $17 billion drop in Samsung's market capitalization and single-day stock price drop of 8%.

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