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Samsung unveils new compensation program for Galaxy Note 7

[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 (