Forbes recently reported that Samsung may be putting another one of Apple's ideas to use and launch a leasing program for their line of Galaxy phones.
A source familiar with Samsung's plans told Forbes to expect the new program within the next few months.
Apple launched the iPhone Upgrade Program just two weeks ago, which allows customers to lease iPhones directly from Apple. Customers can choose to pay off the phone over a 6, 12, 18, or 24 month period, and will be allowed to upgrade their phone to the newest model after just a year. Program members get a new iPhone starting at $32/mo. Each phone is unlocked and comes with Apple Care.
Samsung will be expected to offer a similar (if not the same) program for their users.
As you may remember, a long, long time ago, you had to sign up for a 2-year contract with a carrier and pay for the phone at a discount before you could even activate it. Recently, carriers have shied away from 2-year contracts.
Verizon went as far as completely eliminating contracts, but they require users to pay phones off over a 2-year period before being able to upgrade.
Phone companies like Sprint and T-Mobile also allow users to finance phones. Sprint allows users to pay off new phones for $15/mo and upgrade any time.
It was told that the new financing program will be announced within the next several months, so it is unknown if it will be announced with new phones- expected to be released next August- or now, to be used with the Galaxy S6 Edge Plus and Galaxy Note 5.
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Jack Griffin is an editor for the Technology and Music sections of VAVEL USA.
