Samsung plans to launch a smartphone program read more at here http://spinonews.com/index.php/component/k2/item/659

The world’s top smart phone maker Samsung plans to launch a program to sell refurbished used versions of its premium smartphones as soon as.    

Company will renovate high-end phones returned to the company by users who signed up for one-year upgrade programs in markets, such as South Korea and the United States, and resell these phones at a lower price.

Samsung spokeswoman said, it was not clear to what extent the phones would be altered, but refurbished phones typically are fitted with parts, such as a new casing or battery.

Parallel Apple Inc.’s iPhone has a re-sale value of around 69 percent of its original price after one year from launch, while Samsung's most important Galaxy sells for 51 percent of the original price in the U.S. market. Refurbished phones could help vendors to boost their presence in emerging markets.

Apple sales those refurbished iPhone's in a number of markets, but does not disclose sales figures.

Multinational professional service Deloitte says, worth of used smartphone market will be more than $17 billion this year, with 120 million devices sold or traded in to manufacturers or carriers around 8 percent of total smartphone sales. Some market experts expect the used market to grow fast as there are fewer technology breakthroughs.

Samsung's refurbishment program, could be finalized as early as 2017, it helps the firm generate revenue from dated high-end smartphones returned by users upgrading to newer versions.

This program could help Samsung defend market share in emerging countries by strengthen mid-tier sales. Refurbished phones could also appeal to enterprise clients who want certain security or software products pre-installed on phones to give to their employees.

The company's latest premium phones, Galaxy S7 and Galaxy Note 7, have received favorable reviews, suggesting refurbished versions could be popular. In U.S the Galaxy S7 edge with 32-gigabyte storage retails for $792 without subsidies, while the Note 7 costs $864.