Consumer Product Safety Commission urges consumers to power down Galaxy Note 7s, discontinue charging

• Subsequent an earlier FAA warning, the U.S. CPSC has issued a statement regarding Samsung's (OTC:SSNLF) recalled Galaxy Note 7 devices.
• CPSC: "Lithium-ion batteries pack a lot of power into a small package. When these batteries overheat and burst, the results can be serious . . . This consumer warning is based on recent reports involving lithium-ion batteries in certain Note7 devices that have resulted in fires. These incidents have occurred while charging and during normal use, which has led us to call for consumers to power down their Note7s."
• The agency mentions it is working jointly with Samsung to officially announce a formal recall.
• These developments could not have come at a worse time for Samsung. Apple iPhone 7 pre-orders started today, and with initial supply expected to be robust, Samsung runs the risk of serious damage resulting from missing a device cycle opportunity that was intended to be met by the Note 7.