Report: Samsung selling stakes in tech companies

Samsung is reportedly selling off shares it holds in other tech companies to help pay for the massive recall involving its Galaxy Note 7 smartphone.

According to The Wall Street Journal, Samsung will sell shares in Seagate Technology, chip maker Rambus Inc, electronics company Sharp and ASML Holding NV.

Last week, Samsung formally recalled more than 1 million Note 7 smartphones sold before September 15 because of a potential fire hazard created by the device's battery.

According to the Consumer Product Safety Commission, Samsung says it received 92 reports of batteries overheating in the U.S., resulting in 26 instances of burns and 55 of property damage.

Meanwhile, Bloomberg reports Samsung's battery woes may have started because the electronics giant wanted to take advantage of Apple's iPhone 7 and 7 Plus, seen as an incremental upgrade compared to previous years.

Samsung says replacement models of the Note 7 will be available at most retailers by Wednesday. In a statement published Monday, Samsung says the newer Note 7 models can be identified by a green battery icon instead of white. Also, users will see a small black square on the label of the packaging.

Follow Brett Molina on Twitter: @brettmolina23.