Samsung Trades In South Korean Note 7 Owners A Super Deal On Note 8

By Czarina Ara Lasco

Oct 25, 2016 06:00 AM EDT

As part of Samsung's current upgrade program in South Korea, the company announces an early Christmas present to its unit owners. Instead of having to pay off the whole price on a Galaxy S7 (which is what Samsung has encouraged the Note 7 owners to switch to), consumers will just have to pay half the original unit price. Unit owners can then upgrade their S7 or Note 7 unit to a Galaxy S8 or Note 8, basically giving them 50 per cent off the price. According to a report from Reuters, the said upgrade offer comes above other financial incentives the company has already offered to Note 7 owners in South Korea.

This huge discount from Samsung signifies how the company's tight spot during the Note 7 disaster has actually affected the whole brand itself. Samsung has already encountered a massive financial crisis on the Note 7 during this quarter and is expected to lose even more of their finances for the next quarters.

Aside from the losing profits, Samsung might also have to fight against their loss of reputation among consumers. With this, the company will be going to have to pull out its best shots for its yet-to-be-released smartphones, and at the same time, convince the smartphone users and consumers that Samsung's products are still safe for daily use. Samsung indeed needs to redeem itself to good graces from gadget fanatics.

The interesting thing about the said upgrade announcement is that the company confirms that the Note branding will still remain as Samsung's flag bearer.

Below is a report from Reuters describing Samsung's press release.

"In a statement on Monday, Samsung said customers who trade in their Note 7 phone for either a flat-screen or curved-screen version of the Galaxy S7 can trade up for a Galaxy S8 or Note 8 smartphone launching next year through an upgrade programme. In offering the Note 8 upgrade option, Samsung indirectly reinforced previous statements that the Note series will not be discontinued. The company said the availability of such a program in other markets will be dependent on the situation in each country. It did not elaborate."

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