Samsung Electronics finally identified what went wrong with its Galaxy Note 7 handsets that led to one of the worst technology recalls in recent times, a day before its full-year earnings.
Dong-jin Koh, Samsung's mobile business chief, acknowledged two separate instances of battery malfunctions were to blame for some of the handsets catching fire at a Monday press conference in Seoul, South Korea. He also used the conference to apologize to customers and suppliers.
Investors responded positively to the news, with Samsung shares closing up 2.31 percent at 1,903,000 won during market close on Monday.The Galaxy Note 7 handsets were packed with lithium-ion batteries, which are arranged in three layers: a positive electrode, a negative one and a third physical layer that acted as the separator between the first two. When the positive and negative electrodes touch, it can sometimes lead to short circuits within the battery cells