“Our investigation, as well as the investigations completed by three independent industry organizations, concluded that batteries were found to be the cause of the Note7 incidents,” the world’s largest smartphone maker said Monday.

The results of the months-long investigation are Samsung’s second attempt at explaining what went wrong with the flagship phone. The first time around, Samsung (SSNLF) blamed the problem on one of its battery suppliers, but its response failed to stop the reports of fires.

“I deeply apologize,” said Koh Dong-jin, president of Samsung’s mobile communications business.

The Note 7 fiasco wiped out billions of dollar of profit and tarnished Samsung’s brand around the world.

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Business and financial news – CNNMoney.com

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