Verizon Communications Inc. (NYSE:VZ) has revealed that it will allow its customers to upgrade to the latest Samsung Galaxy S7 which is the latest offering from the Samsung Galaxy line.
The company launched the yearly upgrade program in 2015 where it offered an upgrade plan for the iPhone 6 and iPhone 6S from Apple Inc. (NASDAQ:AAPL). The company has now extended that service to Samsung Smartphones where Verizon customers will get a chance to upgrade to the latest flagships from Samsung. The firm recently launched the Samsung Galaxy S7 and S7 Edge which is the firm’s offering for the premium market.
Customers will however be required to pay 50% of the value of the device before they upgrade. T-Mobile US Inc (NASDAQ:TMUS) also has an upgrade program though its offering is for all its devices. Verizon only offers upgrades for the three most popular handsets that it sells. There is also a chance that the company might expand the program to include more devices such as the new iPhone 5Se that is expected to launch during Apple’s next conference.
Those who wish to enroll in the program will be required to buy the new devices that are also available for preorders. Buyers will have to wait 30 days to be eligible for a new phone from the company once they have paid off the 50% requirement. Verizon is offering the Galaxy S7 at a retail price of $672 or a monthly payment plan of $28 per month for 24 months. The company will also offer the Galaxy S7 Edge at $792 and an alternative offer for $33 per month for 2 years.
What the program means is that those who will have paid off half the value of these devices will be offered the next device in the Samsung line up that will be released next year. Buyers were previously required to make the full purchase before qualifying for such an offer.