Samsung wants Note 7 owners to switch to the Galaxy S7

Samsung is offering customers in South Korea financial incentives to exchange their Galaxy Note 7 smartphones for another one of its phones, Reuters reported.

Customers who returned their Note 7 were offered a coupon worth 30,000 won (R377). Those who traded in their Note 7 for a different high-end Samsung phone were promised 70,000 won (R881) in mobile credit.

The incentives are to compensate customers for the inconvenience of having to return their devices, said Samsung.

Reuters stated that Samsung is increasing its marketing and promotional efforts around other Galaxy-series smartphones after announcing it had halted production of the Note 7.

Samsung slashed its quarterly profit estimate by $2.3 billion to reflect the effect of killing the Note 7.

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Samsung wants Note 7 owners to switch to the Galaxy S7