[THE INVESTOR] Samsung Electronics
announced on Oct. 24 that it would run a new compensation program, dubbed Galaxy Upgrade, for the Galaxy Note 7 users who have exchanged their handset with the Galaxy S7 or the S7 Edge.
Those who participate in the program will receive a 50-percent discount, in an indirect manner, on their future purchase of the Galaxy S8 and Galaxy Note 8.
Samsung said the participants would have to first pay 12-month installments of the S7 or its curved-screen variant and return their phone to receive the Galaxy S8 or Note 8.
The remaining 12-month installments will be covered by the tech firm.
Under the existing compensation program, the tech giant offers a 30,000-won-worth online voucher for all Note 7 users, who exchange their Note 7 device or get a refund, and a 70,000-won discount on their mobile bill when exchanging their Note 7 with Samsung phones, including the S7 and Note 5.
“The details of the new compensation program will soon be announced after discussions with mobile carriers,” said a Samsung official, adding the program will run by Nov. 30.
Other benefits include a 50-percent discount on repairs of a damaged display, for two times.
By Kim Young-won (email@example.com