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Samsung shares plunge 8% on Note 7 woes

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Samsung's share price plunged 8 per cent by the close of trade Tuesday on the back of a decision to halt sales and exchanges of the company's troubled Galaxy Note 7 smartphone.

[SEOUL] Samsung's share price plunged 8 per cent by the close of trade Tuesday on the back of a decision to halt sales and exchanges of the company's troubled Galaxy Note 7 smartphone.

The share price ended the day at 1.54 million won after the early morning announcement, which was accompanied by an advisory for all customers to stop using their Note 7 devices due to safety concerns.

Samsung issued a global recall of 2.5 million Note 7s in early September following complaints that its lithium-ion battery exploded while charging.

AFP