Samsung Electronics Gearing Up To Sell Refurbished Smartphones

There is a program in the offing whereby Samsung will refurbish the higher end phones that are returned to it by users signing up for the yearly upgrade program in South Korea and in the US. It's reported that the company wants to "keep operating margins above 10 percent" while maximizing cost efficiency.

Samsung is preparing to launch a new program selling refurbished, used versions of its high-end smartphones, reports Reuters. Reuters source couldn't tell us which regions will have access to the program initially, and as you would expect, Samsung remained silent on the situation when asked for comment.

It remains to be seen which countries will benefit from this scheme, but Samsung could see notable success with a refurbished smartphone program in emerging markets such as India, where most customers can't afford top flagships that cost roughly $800.

After successfully hitting some major markets with the Galaxy Note 7 last Friday, Samsung is already planning to sell refurbished phones to customers. Smartphone buyers in the United States and other markets continue to flock to newer installment plan options that let them make low monthly payments and trade in their phones each year for new models. Samsung's latest premium devices are Galaxy S7 and Galaxy Note 7 which is well accepted and praised by people a lot. However, the biggest news is that the new Samsung Galaxy Note 7 Batman edition will have not 4GB but 6GB of RAM.

Samsung's decision may allow you to get hold of premium Galaxy S-series phones at nearly half the price of their market value.

Selling the refurbished phones would definitely result in increased market penetration and, as a result, more profits. A refurbishment program would help the company make more money on each phone it manufactures. Also unknown is how much of a discount the refurbished phones will sell for. A new rumor is floating around that claims Samsung is looking to launch a new refurbished smartphone program.

Samsung's market share is being eroded by cheaper handset makers coming out of China.

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