Galaxy Note 7
An employee poses for photographs with Samsung Electronics' Galaxy Note 7 new smartphone at its store in Seoul, South Korea Photo: Reuters

UPDATE: 6:10pm EDT — Samsung has launched a Product Exchange Program for U.S. customers that the company says may allow them to get new smartphones "as early as next week." Customers will be able to exchange their Galaxy Note 7 smartphone for a new one, or swap it for a Galaxy S7 or Galaxy S7 edge.

Original story:

Many Samsung customers could end up being without mobile devices since the company has issued a recall Friday for its Galaxy Note 7 smartphone model. Reuters reported the company issued a recall on the 2.5 million premium devices that have been sold. They have been equipped with a defective battery that causes fires and sometimes explosions.

The article written on Friday revealed that Koh Dong-jin, head of the South Korean company's smartphone business, confirmed the recall with the media but revealed that customers in China will not be affected since those models feature a different battery. Some of the countries affected include South Korea, the US, the UK and Australia, according to Lifehacker. Such a large recall is unprecedented for Samsung which has long prided itself for manufacturing quality devices.

Samsung Electronics Co LTD is expected to replace all of the defective phones and stop sales of the product in 10 markets. The company plans to move quickly in replacing the devices. New sales of the Note 7 in affected markets is expected to resume after it deals with replacements, a process that the company hopes to start up in about two weeks. The manufacturer also plans to extend refund periods for affected customers and even offer exchanges for other Samsung phones.

Reuters reported that HI Securities analyst James Song expect the replacement costs to be somewhat minimal as Samsung could recycle components of the recalled phones. He explained, "It is clever for Samsung to replace the affected models, not offering fixes. That helps enhance consumer confidence and help reduce potential falls in future sales."

Customers who need their Samsung Galaxy Note 7 phone replaced should be receiving further instructions from the company in the upcoming weeks. Customers can also reach out to customer service representatives for more information and questions concerning the recall and their safety.