14 DAY TRIAL // Samsung is currently working to retrieve all Galaxy Note 7 smartphones from their owners, and the company will be offering incentives to determine owners to return their phones. Apparently, financial incentives will be provided for Note 7 owners who opt for full refunds or exchanges.
Reuters reports that Samsung will be offering Galaxy Note 7 owners from its home country a $27 coupon if they request a full refund for their smartphones. Those who wish to exchange the Note 7 for another Samsung phone will get back the price difference and $61 mobile credit.
The device maker hopes many customers will be willing to exchange their phones for a Galaxy S7 or S7 edge, which is why it increased production for these two phones. Customers who received a free gift with the purchase of a Galaxy Note 7, including a Gear Fit 2 or Gear VR, won’t be required to return them. They can keep their units and use them with other phones, as long as they’re compatible.
South Korean operators intend to wrap up Note 7 exchanges and refunds by December
Another report by Korea Herald says that mobile carriers in South Korea hope to complete the Galaxy Note 7 exchange and refunds program by the end of the year. During the first recall, Samsung managed to replace about 80% of all Note 7 units sold in South Korea, meaning that two and a half months should be enough for retrieving all units.
The financial incentives offered by Samsung will surely sweeten the deal and convince some of the Note 7 fans to give up on their device, especially since it poses potential safety risks.
Samsung has started boosting marketing and promotional efforts around other Galaxy smartphones, in an attempt to avoid losing market share to other competitors.
Meanwhile, the CPSC and South Korean authorities continue to conduct their investigations on incidents involving Note 7 smartphones catching fire. There are many theories as to why these phones overheated and went up in flames, but official statements have yet to be made.