Company says efforts to increase phone's battery life caused device to catch fire prompting an estimated $5.3bn recall.
Samsung has embarked on a campaign to restore its battered reputation [Reuters]
Smartphone giant Samsung has blamed faulty batteries for the fires that hit its flagship Galaxy Note 7 device last year, as it sought to draw a line under a damaging scandal.
The South Korean company was forced to discontinue the smartphone, originally intended to compete with Apple's iPhone, after a chaotic recall that saw replacement devices also catching fire.
The debacle cost the company billions in lost profit and reputation.
COUNTING THE COST: Samsung - Going up in flames (25:54)
Internal and independent investigations "concluded that batteries were found to be the cause of the Note 7 incidents", Samsung said in a statement on Monday.
"We sincerely apologise for the discomfort and concern we have caused to our customers," said Koh Dong-jin, the head of its mobile business, bowing before h