A wave of hilarious memes flooded social media when news broke that Samsung had cut production of its Galaxy Note 7 smartphone yesterday.

Reports that the smartphone has, for many people, exploded or caught fire have come from all over the world, including one person in New Zealand.

The Galaxy Note 7 was meant to be Samsung's rival to Apple's iPhone 7, and many commentators noted how the smartphone's failure would be a gift to Samsung's competitors.

The decision to permanently discontinue the product, is forecast to cost the company US$17 billion in lost sales.


Social media users were quick to make light of the company's suffering.

Twitter user Stilgherrian posted a photo of a young girl in front of a house burning down with the caption: 'Samsung shareholders meeting.'

Russian Market shared a gif of a man lighting his cigar from a fire in his lap, with the comment: 'Reading Twitter on your Samsung phone.'

Shane Matthew Neave joked soldiers could use the 'explosive' product in war zones when he said: 'Samsung have announced a new product launch, the Samsung Galaxy 7 grenade.'

Last week one enterprising modder made a video using the phone an effective weapon in the anarchic gaming world of Grand Theft Auto V.

Players can purchase the Note7 from an in-game store where it's classed as a "sticky bomb".

A video uploaded to YouTube shows a player using the weapon to blow up cars by sticking the phone to a door, and loading an explosive trap of phones on the road for unsuspecting drivers.

While Samsung probably aren't laughing at the ingenious mod, owners of the phone might enjoy a bit of schadenfraude. After all, exploding batteries can cause serious injuries and even claim lives.


WATCH: CCTV footage of a smoking Smasung Note 7

Dee Decasa of Honolulu had just visited the Samsung website on her new Galaxy Note 7 when it began smoking Sunday morning