Galaxy Note Android 4.0.3 firmware N7000XXLPY may brick your phone as i mentioned eariler, and now the bug is confirmed by Android. besides, the second leaked official ZSLPF for the Asian region is affected
reference: Galaxy Note ICS XXLPY phone bricks - issues
according to Ken Sumrall, an senior engineer from Android, this is a known bug which can damage your phone
if you issued an mmc erase command, it could screw up the data structures in the chip


the emmc chip can lockup after an erase command is given. Not every time, but often enough. Usually, the device can reboot after this, but then lockup during the boot process. Very rarely, it can lockup even before fastboot is loaded......
after an emmc erase command, it could leave the internal data structures of the emmc chip in a bad state that cause the chip to lock up when a particular sector was accessed.

in other words, if you do a wipe or reformat to the partitions on these affected firmware, you have a chance to get your phone unbootable or bricked
and as i suggested, stay away from the ICS roms until the problem is solved finally
you may take a look at my advice posted couple of days ago about this: Galaxy Note ICS XXLPY phone bricks - advice

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