Samsung has unveiled a phone upgrade program in south Korea, Singapore and the United Kingdom that is similar to what Apple has to offer where you pay a monthly fee for leasing out a phone.
This upgrade program is being called as Samsung Concierge. The monthly fee is about $25 but the price usually varies from region to region. This service is scheduled to hit other countries by march 11th. The entire price of the smartphone is divided into 24 monthly instalments. After 12 payments, you will be eligible for a new flagship phone that will available at that point of time and the monthly clock is rewind to 0. If you choose to keep your existing phone, you will have to pay another 12 instalments before you own the phone completely.
The program will launch alongside the Galaxy S7 and the S7 edge and will offer consumers an easy option to own the device in easy instalments.
“Samsung Concierge was developed “specifically to address the needs of our consumers,” said Samsung Electronics Singapore’s Vice President of IT and Mobile Eugene Goh. ” Samsung continually assesses and explores solutions that offer the best experience for consumers in other markets.”
Phone manufacturers have opted for this tactic as the smartphone sales have been toppling like a house of cards. The users are sticking to their existing smartphone as long as possible since the newer models don’t offer much innovation. This is specifically important for Samsung since its smartphone share is falling rapidly with the rise of Chinese brands such as Xiaomi and Huawei.