[URGENT] Samsung to announce Galaxy Note 7 recall plan at 5 p.m. (local time)

[THE INVESTOR] Samsung Electronics will hold an urgent press meeting in Seoul at 5 p.m. (local time) on Sept. 2 to issue a recall of the company’s latest Galaxy Note 7 smartphone.

The company said mobile chief and President Koh Dong-jin will explain the exact cause of exploding batteries along with a detailed recall plan. 

Samsung Electronics mobile chief Koh Dong-jin

Samsung has halted the phone’s shipments since early this week following a series of reports on the phone’s explosion while charging.

More than 400,000 preorders have been made in Korea alone. An estimated 1 million units have been sold globally.

By Lee Ji-yoon (jylee@heraldcorp.com)