Samsung’s failed Galaxy Note 7 to go back on sale

Samsung Group is a South Korean multinational conglomerate headquartered in Samsung Town, Seoul. It comprises numerous affiliated businesses, most of them united under the Samsung brand, and is the largest South Korean chaebol.

Samsung will start selling a renewed version of its Galaxy Note 7 smartphone this week after an awkward recall over exploding batteries shook the tech monster last year.

The recall of millions of Galaxy Note 7 phones cost the world’s largest smartphone producer billions of dollars in wasted profits and pounded its global reputation.

The renewed device, made of recalled, unsealed Note 7 handsets and remaining components are equipped with new batteries, Samsung said in an announcement.

The limited-edition phone – the Galaxy Note Fan Edition (FE) – will hit the stores in South Korea on July 7, Samsung announced, adding it would only sell 400,000 pieces at home.

The company said it would vote later whether to release the renewed edition elsewhere, which is valued at 699,000 won (£470) locally, far lower than the previously published price.

About three million Galaxy Note 7 smartphones were turned back to the firm last year, but campaign groups including Greenpeace have shown concern that dumping the phones could be dangerous the environment.

“The latest launch of the Galaxy Note FE… has a significant meaning as an environment-friendly project that minimised the waste of resources,” Samsung said in a statement.

The largest recall by the South Korean tech giant was very embarrassing for Samsung, but it has just launched a new flagship phone, the Galaxy S8, to positive reviews and high demand.

In April Samsung published its biggest quarterly net income in more than three years, although the firm has come under stress on wider fronts.

Lee Jae-Yong, the Samsung group’s vice-chairman and heir to its management, is on trial for bribery over his part in a massive corruption rumour that brought down indicted former president Park Geun-Hye.

Lee is cited of bribing Park and her confidante Choi Soon-Sil with millions of dollars to seek legislative favours.