Samsung share price dives after Galaxy Note 7 phone recall

Recall of 2.5m units wipes 11bn off South Korean firm's worth amid warning that battery issue could set new phone alight

Samsung has had 11bn wiped off its shares after the world's biggest mobile phone maker warned customers not to use its Note 7 model because of the risk of it catching fire.

The South Korean company suspended sales of the phone, which it launched in late August to rave reviews, on 2 September. It said there were 35 cases of it catching alight or exploding out of 2.5m units sold, and blamed a battery cell problem.