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  1. Samsung Electronics announces exchange offer for Galaxy Note 7 with Galaxy S7 Edge or S7

Samsung Electronics announces exchange offer for Galaxy Note 7 with Galaxy S7 Edge or S7

In addition, affected customers will also receive a $25 credit on their phone bill or an equivalent gift card.

By: | Published: September 4, 2016 12:49 PM
samsung-reu-L The recall came just over two weeks after the company launched its latest premium phone, which features an outsized screen and high-resolution camera. (Reuters)

After Samsung Electronics recalled Galaxy Note 7 smartphones due to a flaw in its battery, the company has now announced that it will offer its users an exchange offer, where they can swap their Galaxy Note 7 with Galaxy S7 or S7 Edge in the coming week. In addition, affected customers will also receive a $25 credit on their phone bill or an equivalent gift card.

The recall came just over two weeks after the company launched the phone. It follows reports of the 988,900 won ($885) phone igniting while charging. “Samsung is taking a proactive approach to address customer needs around the Note 7,” Tim Baxter, president of Samsung Electronics America said in a statement.

“To date (as of September 1) there have been 35 cases that have been reported globally and we are currently conducting a thorough inspection with our suppliers to identify possible affected batteries in the market,” said Samsung in a statement.

Apple is expected to launch its new iPhone next week and this can also hit Samsung’s business. Strategy Analytics said the combined cost of the recall and lost sales would lop $5 billion off Samsung’s smartphone revenue this year and cut smartphone profit margin by 1.5 percent.

Samsung had launched its flagship device, Galaxy Note 7 in India in August and was priced at Rs 59,900, but due to global complaints of exploding devices, the sale has been delayed.

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