'Exploding batteries' fear over Samsung Note 7

Shares in Samsung Electronics plunged today after the technology giant revealed a further delay to shipments of its new Galaxy Note 7 smartphone.

The company said the move was to allow additional product-quality tests to be conducted. A spokesman added: “Samsung is investigating the matter.”

The update came after unconfirmed reports of users claiming the battery of the Galaxy Note 7 exploded during charging.

Samsung had previously said demand for the product was far outstripping supply, forcing the launch of the smartphone to be pushed back in some markets.

The company is likely to be under pressure to resolve the issue quickly ahead of rival Apple reportedly next week unveiling its latest flagship handset.

Investors were not impressed and the shares dropped 2% in Korea, wiping almost £4 billion off Samsung’s market value.

Shares in sister firm Samsung SDI, the main supplier of batteries for the Galaxy Note 7, also fell.