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Samsung execs know they 'have a disaster on their hands,' technology expert says

Samsung may need to declare defeat with its Note 7 device, a technology expert told CNBC's "Power Lunch" on Monday.

"They are really, really in crisis mode," said Vivek Wadhwa, professor at Carnegie Mellon University's College of Engineering, who said he had spoken to a higher-up at the company. "They are all over it. What he told me was that the executive team is getting hourly updates on this. So they are taking it very seriously. They know they messed up over here — they know they have a disaster on their hands."

Sprint, Verizon, AT&T and T-Mobile have all suspended sales of the Samsung Galaxy Note 7 after a global recall, as reports of overheating batteries continued. Samsung told CNBC it respected carriers' choices and is...