It can be fixed
We have had this hair dryer for over two years and it has worked fantastic and been reliable. Like some reviews, it began making a grinding noise, then emitting smoke and a burning smell. While it is easily disassembled, I would discourage anyone from doing so as it isn't necessary to fix the problem. The fan blade slipped to the end of the drive shaft on the motor, maybe from dropping it, and it started rubbing against the inside body of the dryer and melting. After unplugging the dryer, I pushed the blade back against the motor housing with a chopstick, and the problem disappeared.
Rating: 5 stars