According to Engadget, Samsung has “permanently discontinued” production of the Galaxy Note7 in wake of numerous reports of the smartphone catching fire and exploding. This comes just a day after the tech giant paused production of the gadget and issued a worldwide recall, when a domestic U.S. flight was evacuated after the model began to emit smoke in the cabin. Now for the sake of consumer safety Samsung is discontinuing all sales and production of it. In case you’re still stuck with the phone you should immediately power it down and not use it. The company’s shares dropped eight percent today, wiping approximately $17 billion USD from its value, which marks the biggest one-day decline in almost a decade. Stay tuned for more updates.