The troubled Galaxy Note 7 that caught fire causing damage to people, property and Samsung's reputation, is returning to the market this week as the Galaxy Note Fan Edition.

Samsung says the Note FE has “perfect safety” with a new battery and will cost 700,000 South Korean Won (£470) -- approximately two thirds of the original asking price for the Note 7 -- when it goes on sale on home turf this Friday.

The Note FE will be made from salvaged parts and will be limited to just 400,000 units initially, with overseas sales plans to be determined later.

The original Note 7 was one of the biggest black eyes in Samsung's history, damaging the reputation of the brand and forcing it to accelerate plans for its follow up, the Galaxy S8. When the Note 7 was launched in August 2016 it was also one of the most expensive Samsung phones, with the price starting at £700.

But after reports emerged that its batteries were prone to overheating and catching fire, Samsung was forced to recall the phone within a month of its launch, releasing a second version with different batteries. Despite the changes, the second batch also overheated, prompting Samsung to discontinue the Note 7 and disable any not returned with a software update.

The debacle dealt a blow to Samsung's corporate image. Aviation authorities around the world banned the phone on flights and photos of scorched Note 7s circulated on social media. Samsung spent billions of pounds to recall the Note 7 and fix its damaged brand. The company released investigation results that blamed flaws in design and production of batteries supplied by two battery makers.

After the recall of millions of Note 7 phones, environmental activists have pressured the South Korean tech giant to reuse the electronics parts to reduce waste. Samsung said the Note FE is part of its effort to minimize waste.

Similar to the previous Note series, the Note FE features a large 5.7in screen in the traditional 16:9 ratio, a stylus and an iris scanner, after the latter which was added to the recent Galaxy S8 to great success.