The Korean company confirmed that a (very low) risk of faulty, potentially explosive batteries is to blame, and that all sales of the high-end handset have immediately been halted. Some 2.5 million units will be affected.
This is very bad news for Samsung, both financially and perceptually. More importantly, it's a real pain in the neck for anyone with an $850 phone they now have to give back.
The dust is still settling on the whole mess, but for now, here's how you can go about doing returning your Galaxy Note 7 if you already bought one:
Samsung says it will replacecurrent Galaxy Note 7 devices with a new model "over the coming weeks." There won't be any fee for doing so. Samsung's customer service line is 1-800-726-7864.
Verizon says it's waiving the restocking fee for any customers who want to return or exchange their Galaxy Note 7 up through September 30. That fee is usually for $35. As with most of these carriers, you'll need to visit one of its stores or mail the device back yourself.
T-Mobilesays its customerscan return the Note 7 for a full refund, instead of the usual $50 fee. That'll apply to both the device itself and any "Note 7 accessories" you bought along with it. You'll have to visit a store or call 1-800-937-8997 to get the refund, which you can then use to buy a "similar device," or any other device in T-Mobile's stores, new Note 7 included.
The carrier says that "similar device" could be another Samsung phone, so if you wanted to swap the Note 7 for a Galaxy S7, you're free to do so. If you'd rather wait for a new Note 7, T-Mobile expects those to arrive in the next two weeks. Those who took advantage of the preorder deal, which included a free year of Netflix with their purchase, will be able to keep that subscription.
Sprint's official statement says Note 7 owners should go to a nearby store to exchange their device. It will offer customers a "similar device until the issue is resolved." Sprint wasn't immediately available to provide further specifics.
In a statement, AT&T says it is still determining what its exchange process will be, and that it'll provide more information later Friday. We'll update once it does.