With a new money-back program for Galaxy smartphones, Samsung is doubling down on its trade-in pricing after a year of exorbitantly high trade-in rates for previous phones.
Today, the Korean firm declared that it will introduce a new trade-in program that eliminates the need to buy a new phone. Korean Galaxy phone owners will receive payment for their outdated handset under the “Galaxy Easy Compensation” program; the amount will vary based on the device’s condition. Importantly, there’s no need to buy a new phone.
Samsung claims to rate used phones on three different scales: recycling, good, and exceptional. The rewards will be modified according on which category the phone falls into. Although the corporation has not yet disclosed phone prices, we may learn more from the list of approved devices.
- Galaxy S23
- Galaxy S22
- Galaxy S21
- Galaxy S20
- Galaxy Galaxy Z Fold5
- Galaxy Fold4
- Galaxy Fold3
- Galaxy Z Flip5
- Galaxy Flip4
- Galaxy Flip3
Importantly, all of these phones are still inside their update window and are all more recent models that were introduced within the last five years. They all get operating system upgrades and security fixes in one way or another. Launched on January 14th, the program is now only available in Korea, with plans to expand to other nations in the future.
Samsung has placed a high value on some of these phones in recent sales when they were traded in for new models. For instance, when purchasing the Z Fold 6, the company was offering $800 for the Galaxy S22 Ultra. When no new phone is being purchased, it will be interesting to watch how much the Korean corporation would pay for these smartphones.
Samsung has placed a high value on some of these phones in recent sales when they were traded in for new models. For instance, when purchasing the Z Fold 6, the company was offering $800 for the Galaxy S22 Ultra. When no new phone is being purchased, it will be interesting to watch how much the Korean corporation would pay for these smartphones.
Given that the release specifically states that Samsung intends to “purchase used smartphones that customers do not use and use them for future resale,” it appears that the corporation intends to resell these handsets. This presumably indicates that the recovered phones will undergo refurbishment.
Samsung Wants to Abandon Android’s Image
I’m not sure how much a five-year-old Galaxy S20 is worth, but I can see that more recent models are still selling for a respectable amount. particularly in light of Samsung’s recently announced seven-year software support promise. This also explains why Samsung increased software support for smartphones released after 2019 to at least four years of upgrades last year.
Regardless of the device’s age, Samsung is adamant that its Galaxy phones should be just as valued as iPhones. According to the press release, Samsung Electronics intends to maintain the market value of Galaxy devices. It’s a lot to ask of any Android phone.
Having said that, the Korean business might be getting a little bit closer to improving the public’s perception of Android phones. Samsung phones are losing value more slowly with each new release, according to recent statistics from Sell Cell. For instance, in the 12 months following debut, the Galaxy S22 series saw an average loss of 66.7% in value. But in the same period, the Galaxy S23 only lost 61%, a 5.6% improvement.
For consumers who usually watch the price of their pricey phones plummet as new models are introduced, a dedicated trade-in portal that formally indicates a phone’s value from Samsung’s perspective gives them some peace of mind. However, the level of protection is contingent upon Samsung’s willingness to pay for those gadgets. When a new device isn’t purchased, we’ll have to see if Samsung keeps the prices of its older phones so high.
