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Samsung apparently wants to sell you refurbished smartphones, too

Note 7 can be protected by using an additional tempered glass protector over it so one can have the best of both worlds

The smartphone refurbishment program will be finalized by early 2017. The market will be worth over $17 billion, a figure that has become too large for Samsung to ignore.

Devices that are re-sold by a manufacturer as refurbished typically get an all-new external casing, as well as new components if there were an issue. According to the report, Samsung is looking to keep its operating margins beyond 10 percent and maximize cost efficiency through this upcoming refurbished smartphone program.

According to people familiar with the matter, Samsung will refurbish devices returned by users who are part of upgrade programs in countries including South Korea and the United States which allow customers to upgrade their handsets every 12 months.

Samsung's high-end Galaxies are really good phones, but they are also eye-watering expensive.

Apple already sells used phones in several markets including the US, but was recently blocked from selling refurbished handsets in India, where high-end devices are beyond most buyers.

MailOnline contacted Samsung for comment.

For a leading smartphone company like Samsung, the only thing better than getting a customer to purchase a flagship smartphone is getting two different customers to purchase the same flagship smartphone.

This new processor is even going to be more powerful than the upcoming Qualcomm Snapdragon 832 and Apple's own A10 chip, which is the most current processor Apple is using today. So, it can sell refurbished iPhones, lowering prices a bit and bringing affordability of a standard iPhone to the population with mediocre income ranges.

By selling used phones, Samsung could free up capital to invest elsewhere, and if more consumers start to buy refurbished, used premium models instead budget brands, it'll be able to cannibalise sales of new devices coming from those cheaper handset makers. More than 120 million devices were sold or traded to carriers or manufacturers, i.e. 8 percent of the total smartphone sales. The Samsung Galaxy S7 edge Injustice Edition is still one of the most gorgeous things ever made, and don't look now - there might just be a Samsung Galaxy Note 7 Injustice Edition as well.

That said, Samsung expects demand for smartphones and tablets in the second half to increase, but admits market competition will strengthen as "other companies" release new mobile devices.