SEOUL— Samsung Electronics Co. said on Tuesday that it is discontinuing its embattled Galaxy Note 7 smartphone, pulling the plug on a product whose botched recall has brought headaches to consumers and damaged the Samsung brand.

Samsung said in a filing with South Korean regulators that it would permanently cease production and sales of the device, following a string of reported incidents in which supposedly safe replacements of the smartphone overheated and in some cases caught fire.

“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.
(from WSJ)

permanently stop (cease) production　生産を完全に中止する →生産を打ち切る
high-end　最高級の
plunge　（株価が）急落する
wipe ～ off ・・・　 ・・・ から ～ を消し去る、削除する
market value 時価(総額)

　サムスンは計り知れない打撃を受けた。今後、どう立ち上がるのだろうか。