Samsung reportedly plans to start reselling its own smartphones

Samsung Note 5

Following in the steps of rival Apple and other major tech firms, Samsung plans to start reselling its own smartphones sometime in 2017, according to a new report from Reuters.

It’s unclear how much Samsung will resell its old smartphones for, or whether the company will even bring the program to Canada. The source Reuters interviewed indicated Samsung plans to refurbish previous generation Galaxy smartphones it acquires through its one-year upgrade program, which is currently only available in U.S. and South Korea. In the U.S., flagship Galaxy devices tend to resell for 51 percent of their original sticker price, according to BNP Paribas.

It makes a lot of sense for Samsung to start reselling old versions of its own devices to consumers. With the global used smartphone worth approximately $17-billion USD, Samsung can sustain its own growth by selling older devices at relatively little cost to itself.