Tech giant Samsung Electronics Co Ltd said on Monday it plans to sell refurbished versions of the Galaxy Note 7 smartphones that were pulled from markets due to fire-prone batteries.

Samsung said in a statement it will determine in which markets it will sell the refurbished Note 7s after discussions with relevant regulatory authorities and carriers. The near-$900 phones were scrapped about two months after their launch in one of the biggest product safety failures in tech history.

The company also plans to recover and use or sell reusable components such as chips and camera modules and extract rare metals used in Note 7s such as copper, gold, nickel and silver.Many airlines last year barred all Samsung Galaxy Note 7 smartphones over fire risk concerns, following reports of exploding lithium-ion batteries.

The South Korean electronics giant, which prides itself on innovation and quality, was forced to recall all its Note 7s, costing it billions of dollars.

Lithium-ion batteries are prized for handheld electronics because they can pack a considerable amount of energy for their weight.

Like all batteries, they use different materials, one holding positive ions -- the cathode -- and the other holding negative ions -- the anode.

These ions move one way when charging, and back again when discharging -- being used.

Manufacturing flaws affecting the separators are one potential source of fires. Another is damage to the battery.

In addition, overcharging the packs -- or charging them too fast -- can also lead to overheating and a short circuit that can cause a fire.