While scars from the Galaxy Note 7 fiasco are still fresh, Samsung is already trying something new and interesting to keep customers. Well, at least in its home country for now. In South Korea, everyone that returned their Note 7 and got a Galaxy S7 or Galaxy S7 Edge, are eligible for another upgrade later. It’s expected that this program will enable a trade up to the new Galaxy S8 or Note 8 smartphone, that are set to launch sometime next year.
Besides this trade in program, Samsung customers were offered financial incentives to upgrade to another Samsung devices. The money in hand is 100.000won or about 90USD. This financial incentive means that if you traded your Note 7, you would pay about half the price for new smartphone.
Many feared that this failure of the Note 7 wound burn the whole Note line. Clearly this is not true. Within the update, Samsung confirmed that there will be a Note 8.
Looking at the statistics, for the Note 7 failure, Samsung lost around 5 billion won in operating profits from Q3 2016 to Q1 2017. Also keep in mind that there are still some unpayed bills for the fires and other issues associated with the Note 7. Beside all this, Samsung has a class action suit in South Korea underway, seeking compensation of about $400 US.
So far there is no indication that this program will roll out to the rest of the world. The only thing that is left for us is to hope they push this upgrade worldwide.