Apple could sell another 15 million iPhones as Samsung halts Note 7 sales

Shares of Apple Inc. hit their highest prices of 2016 on Monday as Samsung Electronics Co. Ltd.’s exploding-phone saga worsened and one analyst said Apple could sell millions of iPhones because of it.

Samsung 005930, -8.04% announced Monday afternoon that any Galaxy Note 7 devices that have been sold should be turned off, and said it was halting sales of the smartphone after replacements suffered a similar overheating issue to the original devices. Samsung had already decided to stop production of its Note 7 smartphone after several more phones caught fire over the weekend, telling MarketWatch that it was “temporarily adjusting the Galaxy Note 7 production schedule in order to take further steps to ensure quality and safety manners.

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