Shortly after announcing that it will be permanently discontinuing the production and sales of Galaxy Note 7, Samsung has now announced that the company will now be providing a refund to customers in Australia, Singapore, Taiwan and Malaysia.
After several reported incidents of the smartphone overheating and catching fire— both on the original product and the supposedly safe replacements— the string of incidents has left the brand image tarnished and damaged to a great extent.
The electronics giant has released an official statement in three countries, stating that affected customers in Australia and Singapore can get their Galaxy Note 7s exchanged for either the Galaxy S7, the S7 Edge or obtain a full refund option.
Additionally, customers in Singapore can choose another Samsung device, with a refund in the price difference. Malaysian customers are given the option to choose between the Galaxy S7 or a full refund, while customers in Taiwan can opt to exchange for S7 Edge, the older Galaxy Note 5, or a full refund.
While the Galaxy Note 7 was yet to officially go on sale in Thailand, customers who may have pre-ordered will get a refund on the deposit as well as a discount on existing models.
The Australian branch of the firm is working with all its operators and retail partners to ensure that all customers receive an exchange, either to a Galaxy S7 or S7 Edge (with a refund for the difference in price) or a full refund on their Galaxy Note 7.
Before returning their Galaxy Note 7, customers should back-up their data, complete a factory reset to delete personal information and shut off their device.
As the smartphone recall went from bad to worse, stock analysts began adding up the likely damage and what it could potentially mean for Samsung. The worsening crisis has already wiped off about $17 billion from Samsung Electronics Co.’s market value, with shares falling to an all-time 8% low in eight years.
This move to refund Galaxy Note 7s and replace with other products will cost Samsung Electronics Co. much more in terms of financial losses. Perhaps, this goodwill gesture will gain back some of the company’s reputation.