Update 09/02/16 3:20 PM (Pacific): In response to concerns over defective batteries prone to explosion, Samsung has offered to exchange current Note 7 phones with a new Note 7 “as early as next week.” Current Note 7 owners can also immediately opt to exchange their phones for a Galaxy S7 or S7 Edge and pocket the price difference. Note 7 owners can also receive a $25 gift card or bill credit within the exchange program. Go here for more details on Note 7 exchanges. Update 09/02/16 2:12 AM (Pacific): Samsung issued an official statement on Friday regarding the Galaxy Note 7. The company says it has halted sales of the phablet worldwide, and that previously sold devices will be replaced “in the coming weeks.” The company says that a battery cell issue resulted in 35 reported problems worldwide with the Galaxy Note 7. Samsung’s statement does not explain what those issues were—see the original story below for more details. Here is the official statement in full: Samsung is committed to producing the highest quality products and we take every incident report from our valued customers very seriously. In response to recently reported cases of the new Galaxy Note 7, we conducted a thorough investigation and found a battery cell issue.To date (as of September 1) there have been 35 cases that have been reported globally and we are currently conducting a thorough inspection with our suppliers to identify possible affected batteries in the market. However, because our customers’ safety is an absolute priority at Samsung, we have stopped sales of the Galaxy Note 7.For customers who already have Galaxy Note 7 devices, we will voluntarily replace their current device with a new one over the coming weeks.We acknowledge the inconvenience this may cause in the market but this is to ensure that Samsung continues to deliver the highest quality products to our customers. We are working closely with our partners to ensure the replacement experience is as convenient and efficient as possible.