'It's a fire sale… buy one get 2.5 million free!': Social media users mock Samsung Galaxy Note 7 in hilarious memes after company axes the 'explosive' product 

  • Samsung announced it is axing the product on Tuesday
  • Comes after 2.5 million Note 7 handsets were recalled in September 
  • Decision to stop selling the product could cost company $17 billion in lost sales and a further $2.2billion if each of the 2.5million handsets sold is refunded at their average cost of $850

News that Samsung has axed its flagship Galaxy Note 7 smartphone due to safety concerns has sparked a wave of hilarious memes on social media.

The troubled smartphone has, for many people, become synonymous with setting fire after exploding handsets were reported around the world including in China, South Korea and the U.S.

The decision to permanently discontinue the product, which was meant to be Samsung’s rival to Apple’s iPhone, is forecast to cost the company $17 billion in lost sales.

Twitter user Stilgherrian posted a photo of a young girl in front of a house burning down with the caption: ‘Samsung shareholders meeting.’

Shane Matthew Neave joked soldiers could use the ‘explosive’ product in war zones when he said: 'Samsung have announced a new product launch, the Samsung Galaxy 7 grenade.'

Shane Matthew Neave joked soldiers could use the ‘explosive’ product in war zones when he said: 'Samsung have announced a new product launch, the Samsung Galaxy 7 grenade.'

Russian Market shared a gif of a man lighting his cigar from a fire in his lap, with the comment: ‘Reading Twitter on your Samsung phone’

Russian Market shared a gif of a man lighting his cigar from a fire in his lap, with the comment: ‘Reading Twitter on your Samsung phone’

Russian Market shared a gif of a man lighting his cigar from a fire in his lap, with the comment: ‘Reading Twitter on your Samsung phone.’

Shane Matthew Neave joked soldiers could use the ‘explosive’ product in war zones when he said: 'Samsung have announced a new product launch, the Samsung Galaxy 7 grenade.'

Alongside a photo of the Note 7 and a fire extinguisher, Tim Wrobel wrote: 'In Memoriam: Galaxy Note 7 (Aug. 19, 2016 - Oct. 10, 2016)'.

Another image joked there would be a 'fire sale' with the offer of 'buy one get 2.5 million free'.

Tom Jamieson wrote: 'Love this time of year when the nights are drawing in, there's a chill in the air & the whole family gathers round a roaring Galaxy Note 7.' 

Lord James joked that he'd left his Samsung Note 7 as he shared a gif of an atomic bomb explosion.

And another gif showed Homer Simpson being blown away by a huge 'Note 7 blast'.

 One social media user joked that Note 7 users could end up like  Two-Face from the Dark Knight

 One social media user joked that Note 7 users could end up like Two-Face from the Dark Knight

Twitter user Stilgherrian posted a photo of a young girl in front of a house burning down with the caption: ‘Samsung shareholders meeting’

Twitter user Stilgherrian posted a photo of a young girl in front of a house burning down with the caption: ‘Samsung shareholders meeting’

Tom Jamieson joked that the Galaxy Note 7 could keep a whole family warm during winter 

Tom Jamieson joked that the Galaxy Note 7 could keep a whole family warm during winter 

The first report of a Note 7 explosion surfaced on August 24 in South Korea.

Samsung announced a global recall of 2.5 million Note 7s in 10 markets including the United States and China on September 2 over safety concerns.

But since then reports that the replacement models were also setting fire have continued to rock the company, leading them to take the tough decision to axe the product altogether.

Taking our customer's safety as our highest priority, we have decided to halt sales and production of the Galaxy Note 7,' the company said.

A spokesperson for Samsung confirmed to MailOnline that the smartphone has been 'permanently discontinued'. 

Alongside a photo of the Note 7 and a fire extinguisher, Tim Wrobel wrote: 'In Memoriam: Galaxy Note 7 (Aug. 19, 2016 - Oct. 10, 2016)'

Alongside a photo of the Note 7 and a fire extinguisher, Tim Wrobel wrote: 'In Memoriam: Galaxy Note 7 (Aug. 19, 2016 - Oct. 10, 2016)'

A Red Dwarf fan joked that if Samsung made mechanoids their head would be blown off

A Red Dwarf fan joked that if Samsung made mechanoids their head would be blown off

One image joked there would be a 'fire sale' with the offer of 'buy one get 2.5 million free'

One image joked there would be a 'fire sale' with the offer of 'buy one get 2.5 million free'

Apple share prices rose on Tuesday after the news that Samsung was axing the Note 7

Apple share prices rose on Tuesday after the news that Samsung was axing the Note 7

Many airlines are refusing to let passengers fly with the Note 7s - even if they are switched off

Many airlines are refusing to let passengers fly with the Note 7s - even if they are switched off

The firm says customers with original Note 7 devices or replacements they obtained after the recall should turn off the power and seek a refund or exchange them for different phones.

The axing of the Note 7 will translate into lost sales of up to 19 million phones, or nearly $17 billion (£14 billion), according to analysts at Credit Suisse.

Samsung Electronics shares fell 8 per cent in Seoul Tuesday, wiping out about $17 billion of market value, before the KRX stock exchange closed at 3pm KST

Samsung Electronics shares fell 8 per cent in Seoul Tuesday, wiping out about $17 billion of market value, before the KRX stock exchange closed at 3pm KST

On top of this cost, Samsung could have to shell out an estimated $2.2billion if every 2.5 million handsets produced are refunded at an average cost of $850.

After the initial recall it was expected Samsung would lose $5 billion (£4 billion) in expected sales and recall costs based on the assumption that the firm would resume global Note 7 sales.

Samsung Electronics shares fell 8 per cent in Seoul Tuesday, wiping out about $17 billion of market value, before the KRX stock exchange closed at 3pm KST.

When the axing of the Note 7 was announced later in the day, the stock dropped further in London as much as 9.9 per cent.

Meanwhile, Apple's stock rose 1.9 per cent premarket ahead of NASDAQ opening.  

WHAT TO DO IF YOU HAVE A NOTE 7

Firstly, power it off and don't use it.  

Samsung is offering a full refund on the Galaxy Note 7 or a replacement for another phone.

Customers are advised to contact their mobile operator to arrange a replacement or refund.

'We are encouraging customers to contact their operator or retailer to discuss their options – which includes exchanging for an alternative device or a refund. We are encouraging all customers to power down the device and return it as soon as possible,' Samsung said in a statement. 

Viable alternatives for a Note 7 in the Samsung range include the Galaxy S7 Edge or the older Note 5 model.

For customers who wish to get their money back and move to a different smartphone company altogether, the Google Pixel and iPhone 7 have been suggested as good replacements.  

Samsung has axed the Galaxy Note 7, stopping production of the smartphone, pictured

Samsung has axed the Galaxy Note 7, stopping production of the smartphone, pictured

Customers have shared photographs of their burned handsets since reports of the product setting fire first began in August 

Customers have shared photographs of their burned handsets since reports of the product setting fire first began in August 

 

The comments below have not been moderated.

The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.

By posting your comment you agree to our house rules.

Who is this week's top commenter? Find out now