Report: Samsung to introduce a Galaxy S7 leasing program on March 11

by: Rob TriggsMarch 2, 2016
1.3K

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The new Samsung Galaxy S7 and S7 Edge look set to be two of the hottest releases this year, but they are rather expensive pieces of tech when you consider that there might well be another phone that you fancy next year. To make the purchasing decision a little easier, sources from South Korea are reporting that Samsung will launch a leasing program for these two handsets in its stores on the March 11th release date.

As part of the program, customers will be able to sign up to a 24-month payment plan but will be exempt from making the remaining payment if they choose to upgrade their phone again in twelve months’ time. Samsung Card, the company’s credit card affiliate, will be handling the monthly payments, so customers will be free to pair their new handset up with any of the three major Korean carriers – SK Telecom, KT or LG Uplus.

Samsung won’t be the first smartphone company to run a leasing program. Apple launched a similar offer of its own back in September, which allows customers to pick up a new phone each year through a 24-month instalment loan.

Unfortunately for the rest of us, Samsung only appears to be launching the lease program in South Korea for now. Hopefully the smartphone giant will decide to open up its lease offer on a global scale shortly after this test run.

  • Chaz Tyldsley

    This sounds like the ‘Samsung Upgrade Programme’ they already have in the UK from the Samsung site.

    • Nitroz

      Correct. The fact that Samsung were quiet about its launch is weird to say the least.

  • Oz

    was about to mention that. seems like the way to go. however there is a piece in the t and c that’s a bit disturbing. basically, it’s at Samsung’s discretion.

  • Cakefish

    This is already available in the UK.

  • Xavier_NYC

    I wish they’d just sell an unlocked phone that I can use on any carrier in the US.. I hate carrier branded phones not just because of branding but because they screw with the software and that makes the experience not that great..

    • Prizm

      That’s sucks for you guys. I never seem to hear anything good about the US phone market. Our carriers suck in Australia, but at least it’s not hard to get unlocked phones that can be used with any sim card.

      • Xavier_NYC

        Yeah, it’s really silly how they do it in the US. I really wish they’d just let us use our phones however we want to especially if we’re paying full retail for it.

  • Dan White

    I just looked. It’s charged at 14.9% Apr. F**k that. I could get a loan for a quarter of that rate and buy it outright. Plus I get to sell it whenever I want to upgrade again, where Samsung’s plan requires you to send it back to them. If there’s more than “1 or 2 light scratches”, they reserve the right to charge up to £150 on top!