Samsung's (SSNLF) newest smartphone, the Galaxy S8, is expected to be released on Wednesday and the tech giant is looking to repair its reputation with the new device. The company's Galaxy Note 7 had to be recalled last year after customer reports that phones were spontaneously catching fire, and the problem was a faulty battery.

"We did make a mistake about the Galaxy Note 7, and we apologize for this," Samsung Electrics' Chief Executive Kwon Oh-hyun said at its annual shareholders' meeting in Seoul last week, the Wall Street Journal reported. "We will learn from this lesson."

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