Samsung (KRX:005930) has launched the U.S. Product Exchange Program for Galaxy Note 7 owners. The program is in response to some recent reports of battery cell issues with the Galaxy Note 7 device. Could your small business benefit by exchanging your existing devices?
The mobile giant announced this program in a press release recently.
The U.S. Galaxy Note 7 Exchange Program
Under the U.S. Product Exchange Program, Samsung Note 7 owners have the following choices:
- Exchange their current Galaxy Note 7 device with a new Galaxy Note 7, which will be available next week.
- Exchange their current Galaxy Note 7 for a Galaxy S7 or Galaxy S7 edge, and replacement of any Note 7 specific accessories with a refund of the price difference between devices.
Those who choose a Galaxy S7 family device or the Galaxy Note 7 within the exchange program will also receive a $25 gift card or bill credit from select carrier retail outlets.
Why Samsung is Recalling Galaxy Note 7
The announcement comes on the back of some recent reports of battery problems with Galaxy Note 7.
“Samsung is taking a proactive approach to address customer needs around the Note 7,” said Tim Baxter, president of Samsung Electronics America. “We are encouraging customers to exchange their Note 7 by taking advantage of our Product Exchange Program. The safety and satisfaction of our customers is Samsung’s top priority.”
At a news conference, Koh Dong-jin said, “I can’t comment on exactly how much the cost will be, but it pains my heart that it will be such a big number.”
Koh said Samsung had sold 2.5 million of the premium devices so far.
It’s worth noting that the company has now put the phone’s wider availability plans on hold.
Top U.S. retailers Target and Best Buy have halted the sales of the Note 7 for now. Verizon has said if a customer wants to return or exchange the product, it would waive through September 30 the restocking fee it charges customers.
T-Mobile US, in a statement, has said it would also waive restocking and shipping charges to customers who want to return the recalled phone.
To initiate the product exchange, you need to contact or visit the retail outlet from where you purchased the device. You may also call 1-800-SAMSUNG.
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I guess they are trying to do some damage control preventing their buyers from switching brands. I just don’t know if they still have their trust though.