[Asia Economy Reporter Eunmo Koo] Following LG Electronics' decision last month to exit the mobile phone business, subscribers to the used phone price guarantee programs of telecom carriers using LG smartphones can now exchange their devices for models from other manufacturers such as Samsung Electronics and Apple.
According to the telecommunications industry on the 7th, the three major mobile carriers have prepared new compensation plans that allow subscribers to LG smartphone used phone price guarantee programs to switch to models from other manufacturers while still receiving the originally promised benefits.
The used phone price guarantee program is a service that guarantees up to 50% of the original price when exchanging a device for a new premium product from the same manufacturer after 24 months of purchase. However, with LG Electronics deciding to end its mobile phone business, telecom carriers found it difficult to offer replacements with new LG devices. Considering this, the carriers revised their compensation plans to include smartphones from other manufacturers as eligible replacement devices.
SK Telecom changed the compensation plan for its used phone guarantee program, '5GX Club,' expanding the range of devices that subscribers can exchange for. Starting today, eligible models include six LG Electronics devices: V40, G8, V50, V50S, Velvet, and Wing. Subscribers who own these models and use the used phone price guarantee program can exchange their devices within one year of release for LG Electronics smartphones released within one year, Samsung Electronics Galaxy S, Galaxy Note, Galaxy Fold, Galaxy Z Flip, and Galaxy Quantum series released within one year. They can also exchange for Apple iPhone 12 series and the iPhone 13 series expected to be released this year.
KT also expanded the lineup of exchangeable devices starting from the 10th for the LG Electronics V50. The expanded options include LG Electronics' Velvet and Wing, Samsung Electronics' Galaxy Note20 series, Galaxy S21 series, and the Galaxy Z Fold3 and Z Flip3 expected to be released this year. Additionally, Apple's iPhone 12 series and iPhone 13 series were included as exchangeable devices. Conditions for the latest LG smartphones such as Velvet and Wing have not yet been finalized. KT did not operate the used phone price guarantee program 'Super Change' for the G8 model.
Prior to SK Telecom and KT, LG Uplus also revised its used phone price guarantee program to allow LG phone users to switch to devices from other manufacturers. For the LG Electronics V50, LG Uplus allows device exchanges to the Galaxy Note20 series, Galaxy S21 series, Galaxy Z Fold3, Galaxy Z Flip3, as well as Apple iPhone 12 series and iPhone 13 series while still applying the used phone compensation program. For G8 users, LG Uplus offers exchanges to LG Electronics Velvet and Wing models along with additional cost compensation.
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