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Samsung to pay Galaxy Note 7 owners to buy another brand's phone

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Seeking to retain customers, Samsung is giving an incentive of a $100 credit to Note 7 owners who switch to another Samsung phone. The move is made in two parts: first to encourage people to give up their risky Note phones and also to try and keep them with Samsung. This looks like just a small drop in the bucket next to the company's $70 billion pile of cash, but the damage done to its reputation may be harder to deal with. The U.S. consumer agency had announced a voluntary recall of nearly 1 million Note 7s on September 15.

Samsung announced the credit in an update to the recall notice on its USA website.

Now before you get too upset, bear in mind that firstly, this is a rumour, it's not concrete. It also advised Note 7 customers to stop using the device.

If you're a Galaxy Note fan you may have been rather saddened by the Samsung Galaxy Note 7's "explosiongate" fiasco, and even more so by Samsung's decision to discontinue the handset permanently. "Samsung reflected most of the costs from the Note 7 in the Q3 earnings, reducing uncertainty about Q4 profit", said analyst Jay Yoo at Korea Investment & Securities, as reported by the news agency. For the customers who chose to exchange for another high-end Samsung phone for the faulty device were promised an additional 70,000 won mobile credit. If you bought your phone via Samsung's website and want to exchange it online, you'll get the same monetary perks, but in the form of Samsung.com gift certificates. UK Royal Mail and FedEx are said to be refusing shipments for fear that the phone may suddenly explode and catch fire especially in transit.

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You can find Galaxy Note7 refund instructions here.

On Wednesday, CEO-level executives of Samsung Group companies, including Samsung Electronics, held their weekly meeting in Seoul, but they refused to comment on the permanent halt of production of the Galaxy Note 7. Samsung is sending fireproof boxes to customers who requested returns, complete with gloves and a static shielding bag.

In order to return the Note7s purchased through Samsung directly, users must undergo a five-step process.

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