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Samsung Plans Global Recall of Note 7 Phones, Yonhap Reports

  • Company is evaluating issues with the big-screen smartphones
  • News impacts Samsung just before Apple introduces new iPhones

Samsung Electronics Co. is expected to announce a global recall of the large-screen smartphone Note 7 because of faulty batteries that catch fire, Yonhap reported, citing an unidentified company official.

The world’s largest smartphone maker will announce the results of an investigation and a plan to deal with the issue as soon as this weekend, according to the news agency. Samsung shares, which had climbed more than 25 percent this year, rose less than 1 percent to 1,601,000 won in early Seoul trading. Affiliated battery unit Samsung SDI Co. saw its stock decline as much as 3.7 percent to 104,500 won.

"In response to questions on Galaxy Note7, we are conducting a thorough inspection with our...