Samsung has finally confirmed what caused its flagship Note 7 device to catch fire.

After months of investigations the tech giant says faulty batteries from two suppliers were to blame for the debacle, which caused the firm to lose $5.3 billion from its operating profit.

The company's first premium smartphone release since the Note 7 has now been delayed as a result. We had been expecting to see the Samsung unveil their Galaxy S8 at Mobile World Congress. This has now been pushed back to ensure the new phone is flawless.

The company has pledged to enhance product safety going forward.

Speaking at a press briefing, Samsung mobile chief Koh Dong-jin said, "The lessons of this incident are deeply reflected in our culture and process. Samsung Electronics will be working hard to regain consumer trust."

While he confirmed the S8 will not be launched at MWC, he did not give a timeline for its release.