If you own a Note 7, you should trade it in pronto. Samsung issued a recall after some phones were exploding due to a short in the battery. If that's not enough to motivate you to hand it over, though, Samsung might gimp your battery.
According to the Associated Press, Samsung issued a statement in a South Korean newspaper warning users in that country that their battery life would be limited to 60 per cent unless they turn in their phones for new, non-exploding handsets. The idea is that users who refuse to exchange their phones for updated, safer models will be annoyed into doing so.
Samsung has not confirmed whether it plans to roll out this update to other parts of the world yet. It very well might not. In order to roll out a software update like this, Samsung will have to go through carriers, which could take a long time. However, there's no benefit to waiting and finding out if you have a Note 7 right now. Trade in your phone as soon as possible.
Samsung's quick fix for Galaxy Note 7 is no full recharge [Associated Press via Ars Technica]