[Note 7 Guides, News, & Discussion] apprentice:
Here's a really good FAQ that makes a lot of sense (I already posted this on the recall thread but thought we in the UK would benefit from reading it here)

>>Wait, what happened again?

Samsung has discovered an issue with the battery of the Note 7 units it has shipped so far. By Samsung’s count, the issue has caused at least 35 incidents where the Note 7 dangerously overheated or caught fire while charging, or soon after charging.

The problem is estimated to affect one device in every 42,000 units. Samsung says it shipped around 2.5 million Galaxy Note 7 units so far, so if the estimate is correct, only a few dozen phones sold worldwide are at risk.

Samsung said it’s recalling every Note 7 unit it has shipped so far out of an abundance of caution.

>>This sounds bad. Should I be worried?

If the “one in every 42,000 units” estimation is correct, the risk of your Note 7 being defective is very, very low. While it’s good to be cautious, there’s little reason to be worried about your phone exploding, catching fire, or even breaking.

>>Why do phones even catch fire or explode?

Smartphones (and other modern electronic devices) from all manufacturers have been known to catch fire, usually while charging (often through a third-party cable or charger). These incidents are relatively rare, but with hundreds of million units being sold every year, they are bound to happen occasionally.

>>What is Samsung doing about it?

Samsung is recalling all Note 7 it shipped so far, worldwide. This includes devices that are already in the customers’ hands and devices that have been shipped to carriers and retailers but haven’t been sold to end-users yet. The total number of recalled Note 7 units is around 2.5 million, according to Samsung.

>>When will the Note 7 recall start?

Samsung said it’s working on manufacturing Note 7 replacement units for the recall. The process will take two weeks, according to the company. That means that, in the absence of any change, the first replacement units will reach customer hands in a few weeks.

Keep in mind that the recall process will differ from market to market. The speed of the process will also depend on the retailer or carrier you bought the phone from, and potentially on the model.

>>How long will the Note 7 recall take?

Samsung did not say how long the recall process will take, but it did confirm it will issue replacements instead of repairing units that are brought in. That should make the process faster.

>>Will I get a new device?

Yes, Samsung said it will replace your Note 7 with a new unit of the exact same model.

>>Will there be any compensation for my trouble?

Samsung did not offer any details about that, but it’s possible. Some carriers or retailers may also offer partial refunds, credit, or other forms of compensation for the recall or the cancelled orders. For instance, UK’s Carphone Warehouse has already announced a £25 account credit for every customer who pre-ordered the Note 7.

>>I have a Note 7, what should I do to get it replaced?

Samsung will announce details about the recall process for every market. For now, the only thing you can do (other than returning the phone and asking for a refund, if possible) is to wait for further news. Keep an eye out for announcements from the retailer or carrier you’ve bought the Note 7 from, as well as the Samsung branch from your country.

>>Should I keep using my Note 7?

Again, the risk of anything bad happening is very low, statistically speaking. But if you’re very worried about your Note catching fire, the safest thing to do would be to shut the phone down and put it in a safe place until you can get it replaced.

>>What can I do to stay safe until I get a replacement?

There are a few common sense precautions you can take in order to keep safe, which are valid for any electronic device. To boil it down:

Stop charging your phone it if becomes too hot.

Stick to first-party chargers.

Don’t charge your phone in bed.

Be mindful of where you charge your phone.

More details about how to stay safe are available here.

>>I don’t want a Note 7 anymore, can I get a refund instead of a replacement?

Samsung did not specify, but your retailer or carrier may give you the option to ask for a full refund. Since the Note 7 only launched two weeks ago, your purchase might be protected by your local customer protection laws.

>>My Note 7 is arriving soon, what should I do?

If your Note 7 order is under way, you may want to cancel it, just to avoid the hassle of dealing with the recall. We advise against buying a Note 7 until the situation becomes clearer, especially from random individual sellers on Craigslist, eBay, or other similar sites.

>>Are other Samsung devices affected?

No, there is no information to suggest that other Samsung devices might be affected by the same.