Note7 users switching to GalaxyS7 to have 50% of installment payments

Samsung Electronics has announced a new compensation program to facilitate return of Galaxy Note7 smartphones. According to Samsung on Monday, the tech giant is starting a Galaxy Upgrade Program for Note7 customers switching to GalaxyS7 models. Under the program, those who purchase Galaxy8 to be launched next year will be exempt from the remaining S7 installment payments (12 months), under condition that they return S7.

For Note7 users, this program translates into using S7 models by paying a leasing fee before S8 is rolled out to the market. S7 is priced at 836,000 won (739 dollars) and users will be using them by paying 418,000 won (369 dollars) for a year excluding the 12 month remaining installment payments. However, if they want to purchase S8 series before one-year ends, they have to pay in full the remaining installments since the purchase time.

Currently, the device price at purchase is normally spread out for 24 months, Note7 users, who have to purchase other models before the year ends, had to pay 24 month installments even when they wanted to upgrade to the next Samsung model. "We devised the program to resolve burden on Note7 users of their contract discounts," Samsung Electronics said.

서동일기자 dong@donga.com