Product Meltdown News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Fallout from a product meltdown. the dow down just about 94 points. let s head to alison kosik, she s live at the new york stock exchange, good morning. good morning, carol. we saw investors react to the news that samsung permanently stopped sales and production of the smart phone galaxy 7. got crushed in seoul, south korea, where they do trade, wiping out about $17 billion of the company s market value. pulling this phone is expected to cost samsung $10 billion in sales. i just want to get you up to speed on this saga. after the first reports in september, that the newly launched phones overheated and caught fire, samsung actually offered up replacement phones but even those phones were having the same trouble. it was so bad because if you were flying on an airplane like i was, flight attendants told passengers, turn often your note 7 phones. in fact, one phone caught fire ....

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