Samsung permanently discontinues Galaxy Note 7

A day after the company said it was temporarily halting production of the Galaxy Note 7 smartphone, Samsung has permanently discontinued the product.

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

Samsung shares dropped 8 percent on the news, marking its biggest one-day decline in eight years.

The company recalled the phones over an issue with the battery causing them to catch fire. But even the replacements were reported to have similar issues.

Read more from The Wall Street Journal.