Those who want a refund for their Samsung Galaxy Note7s will receive $1,168, the retail price of the phone, the beleaguered firm said yesterday.
In the fight to keep customers, Samsung said that those who swop their phones for the S7 edge will also receive a $250 cheque. The Samsung Galaxy S7 edge, another flagship device, sells for $1,098.
The same options will apply to customers who bought the Note7 at full price from retailers, and those who paid a subsidised rate for it after signing a two-year service contract with local telcos Singtel, StarHub and M1.
Customers' telco contracts will continue undisrupted.
On Oct 11, Samsung warned customers to stop using the Note7 due to unresolved concerns about the phones catching fire. It also made the unprecedented decision to scrap the phone.
Note7 owners with original Samsung accessories including the S View Standing Cover, Leather Cover and Back Pack will also be able to get a refund of their retail value during the exchange.
Customers can indicate their preference on Samsung's website (www.samsung.com/sg/note7exchange) from Oct 26 to Nov 6.
They will be asked for their home address and details so that their Note7 can be picked up, in addition to their getting a refund or a replacement Galaxy S7 edge.
Retiree Linda Chow, 54, said she may opt for the S7 edge as the $250 cheque in addition to getting the phone is a "good deal".
However, she lamented that the lens kit is not in the list of original Samsung accessories that will be refunded.
In the United States, Samsung is giving customers a US$100 (S$139) bill credit if they switch to another Samsung device. If they leave the brand by asking for a refund or switch to another brand of device, they will get a smaller bill credit of US$25 on their next purchase.
Last month, Samsung recalled 2.5 million handsets worldwide, including tens of thousands of units in Singapore, and issued replacement Note7s after some units caught fire and exploded.
The problem was initially put down to a battery fault. But the explosions persisted even with the replacement sets, with one incident of a replacement phone emitting smoke and requiring passengers to evacuate a Southwest Airlines flight in Louisville, Kentucky, on Oct 5.
This resulted in Samsung's decision to pull the plug on its flagship device, barely two months after its launch.