Samsung’s Hassle-Free Trade-In: Cash for Your Old Phone!

Samsung aims to purchase your old smartphone, but divergent from its typical trade-in schemes, its newly unveiled Galaxy Easy Reward initiative does not necessitate purchasing a new phone whatsoever. Through this, Samsung is entering the market of various phone recycling and second-hand device facilities that acquire your old phone, so you don’t need to put in the effort to sell it privately.

The Galaxy Easy Reward will go live online in Korea on January 14, and the assortment of smartphones Samsung intends to buy is quite broad. Beginning with the Galaxy S20 series, Samsung will also repurchase the S21, S22, and S23 series, in addition to the Galaxy Z Fold 3, Z Fold 4, and Galaxy Z Fold 5. The list concludes with the Galaxy Z Flip 3, Galaxy Z Flip 4, and Galaxy Z Flip 5. The most recent Galaxy S24 series, Galaxy Z Fold 6, and Galaxy Z Flip 6 are not part of the offer.

The value of the phone hinges on its state, with the Galaxy Easy Reward system seemingly providing an initial estimate that will be finalized once the device has been received. It will categorize phones in a distinctive manner, with either “Excellent” or “Good” presumably suggesting that the phone can be resold, while the last “Recycle” classification indicates that the phone will be dismantled for parts.

It appears Samsung will accept non-Samsung devices as well, although the phrasing in the translated Korean press release is ambiguous. What prompts Samsung to initiate the Galaxy Easy Reward program? A statement from Samsung Electronics’ Vice President Jung Ho-jin clarifies:

“We anticipate this initiative will enhance the long-term value of Galaxy products and aid in the circular economy,” he stated.

The Apple iPhone is recognized for maintaining its worth in the second-hand market compared to most other smartphones, and it seems Samsung aims to elevate its devices’ value as well. A high-end, pristine condition iPhone 16 Plus can trade for as much as $763 according to second-hand device buyer SellCell, whereas a Samsung Galaxy S24 Plus fetches up to $613. By increasing the second-hand value of its phones, Samsung is likely hoping to entice more consumers towards its latest models.

The Galaxy Easy Reward initiative will initially launch in Korea, with plans for expansion to additional regions in the future, as per the press release.