After having mentioned these two attributes of Allah Ta’ ala earlier, it was said: اللَّـهِ الَّذِي لَهُ مَا فِي السَّمَاوَاتِ وَمَا فِي الْأَرْضِ (Allah, the One to whom be-longs what is in the heavens and what is in the earth). In other words, Allah is that particular Being who is the Creator of everything in the heavens and the earth and He is the absolute Sovereign having no partners or associates.
Said in the concluding sentence of verse 2 was: وَوَيْلٌ لِّلْكَافِرِينَ مِنْ عَذَابٍ شَدِيدٍ (Woe is to the disbelievers from a severe punishment). The word: وَيْلٌ (waiyl : woe to) is used in the sense of severe punishment and fatal consequence. The verse means that those who dismiss and deny this blessing of the Qur’ an, and prefer to go on living in a multiplicity of darkness, should know that there is for them the darkest of destruction, and the severe punishment which is about to visit them.
The Meaning in Summation
The gist of the verse is that the Qur'an has been revealed so that it rescues all human beings from darkness and brings them into the light of the way of Allah. But, certainly unfortunate are those who reject the Qur'an itself - they, by doing so, are bringing punishment on themselves with their own hands. So, those who deny from the very outset that the Qur’ an is the Divine Word, are the targets of this warning of punishment obviously. But, those who, despite their belief in the Holy Qur'an, have abandoned it in their practical life, in the sense that they never re-cite it, nor try to understand it, nor act upon its teachings, they too can-not be considered totally free and safe from becoming targets of this warning.