Intel has issued a complete recall for its Basis Peak smartwatch and is offering a full refund. Here, the Alcatel CareTime kid's smartwatch is on display at CES 2016 at the Las Vegas Convention Center, Jan. 7, 2016. Getty Images/Alex Wong

Intel has known since at least June that its Basis Peak smartwatch is prone to overheating, potentially causing blisters or burns on the skin. And after trying a software update to fix the problem, the company issued a complete safety recall voluntarily and apologized for the situation Wednesday, saying in a statement: “It is important that you stop using your watch immediately and return it.”

The technology company — the world’s biggest chip maker — is offering a complete refund for both the smartwatch and authorized accessories, once the owners of the device return them to the company. Requests for initiating the process can be made here.

According to the statement, customers everywhere will get a refund of $344 for Basis Titanium devices, which includes taxes and shipping.

The refund for the Basis Peak devices differs for various countries, but U.S. customers will get back $234, including taxes and shipping. Authorized accessories, such as charging cradles and watch straps, will also be refunded at full value.

Intel hasn’t specified a deadline by when customers should return their Basis smartwatches but urges people to return them “as soon as possible.” The company said it expects to process refunds in the U.S. within 10 days of receiving the watch and accessories.

Users of the device can keep all their fitness data by exporting it from the Basis Peak app on their mobile phones. The data will be accessible till Dec. 31, 2016.

Intel stopped selling Basis smartwatches in June after reports of overheating. The device was designed by Basis Science, Inc., a San Francisco company that Intel acquired in March 2014. The watches were manufactured in China.