Samsung offers Note 7 owners $100 off another Galaxy phone

In an attempt to limit reputational damage in the wake of its exploding smartphones, Samsung is offering Galaxy Note 7 owners $100 to buy another smartphone.

In a press release released on Thursday, Samsung announced that it will give customers $25 in credit if they want a full refund or to exchange their Note 7 for a phone from another manufacturer, and "up to" $100 in credit if they exchange it for "any Samsung smartphone."

The troubled company began offering financial incentives to US and South Korean customers for exchanging their Samsung Galaxy Note 7 phablets.

“We appreciate the patience of our consumers, carrier and retail partners for carrying the burden during these challenging times,” says Tim Baxter, president and chief operating officer, Samsung Electronics America. “We are committed to doing everything we can to make this right.”