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Tech

Samsung starts Note 7 exchange program

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Tech

Samsung starts Note 7 exchange program

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00:00:01
>> Samsung taking steps to salvage it's reputation Saturday. The world's top smartphone maker urging anyone who bought the new Galaxy Note 7 to shut down the device and turn it in as soon as possible for replacement. The recall coming after the phones proved to be fire prone, Reuters Tech Editor Jonathan Weber.
00:00:20
>> It's certainly a major black eye for Samsung, the Galaxy Note 7 was a well-received product, I think a lot of people were excited about it. And to have this kind of this recall, especially on a safety issue where you could actually get hurt by using the phone, that's a pretty bad thing for a phone vendor.
00:00:40
>> In exchange, customers will get a different model smartphone and a $25 rebate until a Note 7 with a safe battery is ready. But that won't happen in some markets at least until September 19th. Samsung seems to have no other choice. Late Friday, the US Consumer Product Safety Commission urged all consumers to stop using the device.
00:01:00
And aviation authorities along with airlines the world over banned it from checked in baggage or issued guidelines not to plug in or turn on the Note 7 inside airplanes. Some 2.5 million Galaxy Note 7's have been sold since the premium device went on sale about a month ago.
00:01:17
Analysts say the recall could cost the company nearly $5 billion in lost revenue this year.