Consumers can lease the smartphones at the Up2you website, where they sign a 2-year contract and make a first payment of approximately 10 percent. For a EUR 699 Galaxy S7, for example, customers pay EUR 89 up front, then between EUR 27 and EUR 34 per month, depending on the insurance policy they choose. Smartphone geeks and others who want to always have the latest handset will be able to trade it in for a new Samsung model every four months, more or less, and will have to sign a new 2-year contract.
Berlemont added that Up2you will be extended to other markets if it is successful in France. The company wants 10-15 percent of its high-end smartphone users to be with Up2you within two years.
In a subsequently published press release, Jean-Philippe Illarine, vice president of Samsung Electronics France’s mobility division said, “Samsung wanted to answer the needs of French consumers who are increasingly turning towards leasing offers. Up2you is an initiative of Samsung Electronics France, unique so far, which enables [customers] to rent an S7 while remaining free to change smartphone every time a new high-end device is released. We are betting on a new market segment, focused on service, in which we believe strongly.”
