Samsung offers special US trade-in program for new foldable smartphones

Samsung Electronics Co., the world’s largest smartphone maker, is running a special trade-in program in the United States for its upcoming new foldable smartphones, industry insiders said on Friday, as part of its drive to expand its customer base of foldable handsets.

Samsung’s U.S. unit recently opened a reservation page that allows people to trade in up to two of their old devices for a new foldable smartphone that will launch next month.

The South Korean tech giant confirmed earlier this week that its new foldable smartphones, which are set to be the Galaxy Z Fold3 and Galaxy Z Flip3, will be unveiled on August 11.

Normally, its commercial program accepts a device for a new product. But Samsung’s latest offering allows people to trade in up to two devices, offering greater discount options, and accepts not only smartphones, but tablets and smartwatches as well.

Such a trade-in program is the first of its kind for Samsung. Its US unit will also offer Care +, Samsung’s mobile care plan, for 12 months free, up to an additional $ 100 in trade-in credit and an “extra special offer” during the pre-order period.

Samsung said it could not confirm whether the special exchange program offered by the US unit would be available in other markets.

“Each regional office has its own marketing plan, so we don’t know if such a take-over offering will be extended to other countries,” said a Samsung official in Seoul.

Industry insiders said Samsung’s latest promotion was aimed at expanding its foldable smartphone customer base in the United States while absorbing LG smartphone users.

Its smaller rival LG Electronics Inc. announced earlier this year that it would be pulling out of the mobile phone business after years of losses. LG was the third-largest smartphone supplier in the United States in the first quarter of the year, according to market research Counterpoint Research, after Apple Inc. and Samsung.

In South Korea, the company has already run a special take-back promotion to target owners of LG smartphones. (Yonhap)

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