Samsung Electronics says is halting production of its Galaxy Note 7 smartphones over concerns the batteries could catch fire.
It comes a day after it halted global sales.
Samsung said Tuesday, that it has made a final decision to stop production for the sake of consumer safety.
Jon Erlichman with Business News Network says the flop of the phone could cost Samsung, "well north of a billion dollars."
He says the company's stock has taken a beating, losing about $17 billion in market capitalization.
The timing isn't good either, leaving Samsung without a flagship phone for the holiday season.
"They wanted this phone to put them on a bigger map against Apple and the iPhone," Erlichman says. "They made a point of getting it to market before the latest iPhone hit the market."
Samsung Canada is asking all retail outlets to stop sales and exchanges.
It's urging Canadian consumers with either an original Galaxy Note 7 or a replacement Note 7 to power down and stop using it, and await further details about a full refund at place of purchase.
WITH FILES FROM THE CANADIAN PRESS