In South Korea, Samsung offers incentives for Galaxy Note 7 customers to stay with Samsung

In South Korea, Samsung offers incentives for Galaxy Note 7 customers to stay with Samsung
In an attempt to keep Samsung Galaxy Note 7 customers from jumping ship (to Apple, perhaps?), Samsung is offering financial incentives to South Korean Galaxy Note 7 buyers who exchange their phone for another Samsung Galaxy model. As successful as Samsung has been in the smartphone industry since the Samsung Galaxy S II took off in 2011, some Wall Street types have compared Samsung to BlackBerry and Nokia, two companies that led the industry until they didn't keep up with new technology. But unlike those two, Samsung's attempt to outrun current technology could be to blame here.

While we don't expect Samsung's market share to drop sharply, the company still has to contend with an exodus of consumers who feel as though they can't trust the brand anymore. Already, we are seeing posts in the Apple sub-reddit page from Galaxy Note 7 owners who are switching to the Apple iPhone 7 or Apple iPhone 7 Plus. One analyst sees Apple adding an additional 8 million in iPhone sales this year from the Galaxy Note 7 issue. As a result, Samsung is giving financial incentives to those who keep it in the family by exchanging their Galaxy Note 7 for a Samsung Galaxy S7 or Samsung Galaxy S7 edge.

In its home country of South Korea, Samsung is offering a coupon worth the equivalent of $30 USD to those who return their Galaxy Note 7 back to the manufacturer. If the Galaxy Note 7 is exchanged for another high-end Samsung phone, the consumer is given another coupon valued at the equivalent of $61.25 USD. 

Yesterday, Samsung announced that its Q3 profit forecast will decline by $2.3 billion to cover its financial exposure of the discontinuation of the model. That announcement has helped stabilize Samsung's shares, which are up 1.4% on Thursday.

source: Reuters

Related phones

Galaxy Note 7
  • Display 5.7" 1440 x 2560 pixels
  • Camera 12 MP / 5 MP front
  • Processor Qualcomm Snapdragon 820, Quad-core, 2150 MHz
  • Storage 64 GB + microSDXC
  • Battery 3500 mAh

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7 Comments

1. EC112987

Posts: 1214; Member since: Nov 10, 2014

taking a break from Samsung until next year, s8 with a stylus??

2. xfire99

Posts: 1205; Member since: Mar 14, 2012

I would stay away all phones which use USB-C! Bad USB-C cables can be dangerous! http://arstechnica.com/gadgets/2016/02/google-engineer-finds-usb-type-c-cable-thats-so-bad-it-fried-his-chromebook-pixel/

3. Bernoulli

Posts: 4359; Member since: Sep 01, 2012

No problems with lumia 950 xl here

4. truthwins unregistered

Samsung you don't have to give any incentive as mostly of your users are ignorant sheep

7. omnitech

Posts: 1131; Member since: Sep 28, 2016

Lol that's rich coming from an ifan.

5. Iphonei

Posts: 13; Member since: Oct 10, 2016

What happened to note 6.

6. Diego!

Posts: 867; Member since: Jun 15, 2009

Quoting: 'In an attempt to keep Samsung Galaxy Note 7 customers from jumping ship (to Apple, perhaps?)' WTF? Why does it have to be Apple? Couldn't it be Sony or HTC, since they are Android phones? Oh well, it's Alan, what can we expect from an ultra Apple fan? Geez...

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